This is a combined policy which has attributes of both fire as well as burglary policies in it as well as liabilities of the householder or owner.

Your house may be your biggest investment, so it is important to protect it. House owners insurance offers you a level of protection against unexpected loss of property and personal belongings. In addition, if your house is purchased using a mortgage, the lender generally requires that your house is properly insured as a condition of the mortgage.

Basic coverage

Basic coverage on house owners’ insurance policies includes coverage for fire and smoke, lightning, theft, ice, snow and frozen pipes. In addition, basic coverage also includes liability coverage in case someone suffers an injury in your house, if there are court fees associated with injury, your basic coverage will cover them subject to set policy limits. Finally, if your house becomes uninhabitable due to one of the covered risks, basic coverage typically takes care of your living costs (alternative accommodation) subject to applicable limits, which are related to the sums insured and value of contents.

Lodging a claim

When reporting a house owner’s claim, you have certain rights

1. Your rights include access to your insurance policy in case it was lost and also access to your insurance claims report.
2. When reporting a claim, be sure to provide proper documentation for the claim e.g. police report and repairs estimates and fill out the insurance claim forms correctly.
3. If a claim is approved, the payment is sent either directly to you or to your account manager of your mortgage account.