A homeowners’ policy pays for damage by a covered peril to building and personal property. It will also provide compensation for Loss of Use, Additional Living Expenses and/or Fair Rental Value, and protection against liability claims
Provides personal property and liability protection to tenants.
Condo insurance covers building property for which the insured is responsible for, contents, upgrades (ex. new cabinets), liability, and temporary living expenses while the unit is being repaired.
Flood insurance covers damage to your building and contents caused by flooding. This includes losses resulting from overflowing of inland or tidal water, accumulation of water from any source, or other similar causes. Some companies offer flood coverage by adding an endorsement to the home policy, but a stand-alone policy is usually the only available option.
A personal article “floater” policy will cover valuable items such as art collections, jewelry, fine china, silverware, etc. Most of these items are not covered under the homeowner policy or its recoverable value is set at certain “low” monetary/cash limit despite of its appraised value.