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Home insurance, also known as homeowners insurance or property insurance, is a type of insurance policy that provides financial protection to homeowners in the event of damage to their property or possessions. It typically covers damages or losses caused by perils such as fire, theft, vandalism, windstorms, and certain types of water damage.

 

Home insurance policies typically consist of several types of coverage:

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1. Dwelling coverage: This covers the structure of the home itself, including the walls, roof, foundation, and attached structures such as garages or decks.
    

2. Personal property coverage: This covers the belongings inside the home, such as furniture, clothing, electronics, and appliances. Personal property coverage may also extend to items stored off-premises, such as belongings in a storage unit.
    

3. Liability coverage: This provides protection if someone is injured on your property and you are found legally responsible for their injuries. Liability coverage can help cover medical expenses and legal fees if you are sued.
    

4. Additional living expenses (ALE) or loss of use coverage: If your home becomes uninhabitable due to a covered peril, this coverage can help pay for temporary living expenses, such as hotel bills or rent, while your home is being repaired or rebuilt.