MANAGEMENT

Detailed explanation-1: -Home insurance also known as property insurance or homeowner insurance covers the structure as well as the content. A home insurance policy provides coverage for your own house, rented house, apartment or luxury mansion as well.

Detailed explanation-2: -Most lenders will require you to have homeowners insurance, also commonly known as hazard insurance, and often abbreviated as HOI. This insurance policy covers losses occurring to your home, its contents, loss of its use (additional living expenses) or loss of other personal possessions of the homeowner.

Detailed explanation-3: -1. Home structure insurance covers the permanent structure of the house, including kitchen, bathroom fittings and roof, from any kinds of dangers and risks. 2. Contents insurance covers the contents inside the house, such as documents, electronics, and jewellery, from damages and loss owing to theft, fire, flood, etc.

Detailed explanation-4: -The home insurance policy covers various kinds of damage. For example, damaged electric lines/wires, water pipelines, or structure damage. It also provides coverage for broken windows/doors/floors/walls. Not only the house but also covers for the loss and damage to the contents of the house.

Detailed explanation-5: -Property insurance is a type of insurance that aids in defending the tangible assets of a person’s personal or commercial property from unforeseen events. The three types of property insurance coverage are replacement cost, actual cash value, and extended replacement costs.