Why Do You Need Homeowners Insurance?

The biggest single investment most people make in their lifetime is buying a home, condominium or townhouse. What you want to do is protect your home, personal property and any type of liability with a homeowner's insurance policy.

Homeowner's insurance just does not cover homes, but it will cover those who rent homes, apartments, condos, and townhouses. These homeowner's policy are referred to at renter's homeowner policies. If you are a renter, you will not need protection against damage to the building itself, but you will need protection against damage or theft of your personal property and any type of liability just in case someone falls or gets hurts on the part of the premises that you rent.

A condominium or townhouse owner may also purchase a homeowner's policy to insure against loss of personal property. The condominium and townhouse owners also are responsible for the inside of the condominium or townhouse. You are not responsible for the outside structure but the walls and inside structure is your responsibility.

You, of course, would be protected with homeowner's insurance if there was theft or liability just in case someone injuries themselves in your condominium or townhouse. You would also be responsible if you cause, for example, water damage to someone's condo that may be underneath you.

Condominium or townhouse owners may buy homeowner's policies that may also include any additions or alterations not insured by the Condominium Association.

It is very important to check with your Condominium or Townhouse Association what is exactly covered by the Condominium Association and exactly what is not covered regarding the whole structure of your condominium.

Then sit down with your insurance agent before buying a policy to make sure you are adequately covered if there is fire damage within your home, water damage, roof damage or any type damage that you may not be sure is covered by the Condominium Association.

Copyright 2005

Fern Kuhn, RN
Specializing in Diabetes
http://www.homeinsurancehelp.info

http://www.diabetestestingcenter.com

You may reprint this article if you keep the links active.

Latest News


Deal-Seeking Travelers Should Not Overlook Need for Travel Insurance
MarketWatch - 2 hours ago
Although travelers are seeking deals and jumping on last-minute travel offers, Travel Guard reminds consumers that travel insurance remains essential no ...
From Homeowner to Renter: What You Need to Know About Renter's ... MarketWatch
all 17 news articles

WWL

21st Century Holding Company's Subsidiary Federated National ...
MarketWatch - 57 minutes ago
an insurance holding company, today announced that it received approval from the Florida Office of Insurance Regulation (OIR) to take out (assume) up to ...
La. grand jury indicts former head of state-run insurance concern USA Today
Ex-CEO of Citizens Property Insurance indicted 2TheAdvocate
Former chief of Citizens Insurance indicted WBXH
WWL - KATC
all 13 news articles

Insurers propose universal, centralized healthcare
Los Angeles Times, CA - 12 hours ago
Several consumer groups criticize the early bid by America's Health Insurance Plans, a trade group that fought an overhaul in the 1990s, to take an active ...
Medicine for the Job Market New York Times
Health Insurance Trade Group Proposal Praised By Sen Kennedy CNNMoney.com
Nurses Reject AHIP Proposal as a 'Marshall Plan for Health Insurers' MarketWatch
Boston Globe - Wall Street Journal
all 215 news articles

Electric Insurance Appoints Sweet & Sons, Inc.
MarketWatch - 6 hours ago
"When looking for a new relationship with an agency, Electric Insurance seeks agencies that have track records of delighting customers," said Michael J. ...

White & Case Recruits Top Bank, Insurance Regulatory Lawyer
MarketWatch - 4 hours ago
NEW YORK, Dec 04, 2008 /PRNewswire via COMTEX/ -- Global law firm White & Case LLP is expanding its firmwide Bank and Insurance Regulatory Practice with the ...

American Family Insurance Selected as Recipient of 2008 E-Fusion Award
MarketWatch - 57 minutes ago
OLDWICK, NJ, Dec 04, 2008 (BUSINESS WIRE) -- American Family Insurance's Teen Safe Driver Program, which uses a mobile video and online notification system ...

AARP’s Stealth Fees Often Sting Seniors With Costlier Insurance
Bloomberg - 11 hours ago
He signed up for an auto insurance policy endorsed by AARP, believing the advertising that said he would save money. He didn’t. ...
Health Insurance, Business Lobbyists Join Discussions About ... Medical News Today (press release)
all 3 news articles

CSC Announces Social Networking Community for Property and ...
MarketWatch - 3 hours ago
today announced the latest innovation in the evolution of its property and casualty (P&C) insurance client community: the introduction of WikonnecT, ...

BBC News

Bernanke says home price insurance would be costly
Reuters - 3 hours ago
WASHINGTON, Dec 4 (Reuters) - An idea floated by some economists to encourage home buyers to purchase home price insurance would be costly in the current ...
Bernanke calls for measures to stem foreclosures International Herald Tribune
US Fed demands foreclosures push BBC News
Bernanke Says US Must Step Up Foreclosure Efforts (Update1) Bloomberg
Motley Fool - Austin American-Statesman
all 1,107 news articles

IBC Insurance buys up InsCorp
Bizjournals.com, NC - 4 hours ago
The purchase of the company expands IBC Insurance’s presence in Laredo and increases the growth that it is seeing in all markets and business segments. ...

Resources