Home Insurance, also called Homeowner’s Insurance, provides cover for the home, its contents and the personal possessions of the homeowner, and may also cover liability insurance for accidents occurring within the home. Cover is usually not provided against natural disasters like flood or earthquake, ‘acts of God’, and war, although specific covers against them are available separately. Home Insurance is usually a term contract (applicable for a certain time), but can also be perpetual.
Property Insurance, on the other hand, is a broader category. It assures protection against risks to property, including fire, theft, natural calamities or weather damage. Property can be insured in two ways - open perils, or all risk perils, and named perils. Open perils cover all the causes of property damage, not specifically excluded in the policy. Named perils only cover for the causes of loss listed in the policy. Common named perils include causes of damage such as fire, explosion theft, etc. Some of the common causes that are excluded are earthquake, nuclear incidents, and war.
In this section of webdirectory, we provide links to vendors providing all forms of Home and Property Insurance covers, and other allied resources.