ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Home insurance, also known as home owners insurance, secures the structure of your house or the valuable contents or both.

Detailed explanation-2: -Homeowners insurance provides policyholders with coverage against loss and/or damage to their homes and possessions, also referred to as insured property.

Detailed explanation-3: -Liability covers you against lawsuits for bodily injury or property damage that you or family members cause to other people. It also pays for damage caused by your pets. So, if your son, daughter (or even your dog) accidentally ruins a neighbor’s expensive rug, you are covered.

Detailed explanation-4: -Home and property insurance covers losses to the structure and content of your home/ property due to natural and man-made calamities.