Homeowner’s insurance is a form of property insurance that covers losses and damages to an individual’s house and to assets in the home. Homeowner’s insurance also provides liability coverage against accidents in the home or on the property.
A homeowners insurance policy can cover damage caused by such perils as fire, windstorms, hail, lightning and vandalism. Typically, damage caused by floods and earthquakes are excluded. Optional coverage and policies may be available to cover damage due to additional perils.