As the name implies, anyone who owns a home can take homeowner’s insurance. Even if the house is on mortgage, you can take home insurance. In fact the mortgagor will insist that you take hoe insurance so that in case of calamities his financial interests in the mortgage of the home are not jeopardized.
There are several kinds of homeowner’s insurance, which are affordable easily by any homeowner. Many homeowners associate insurance with natural disasters only. However insurance has lots of other benefits like protection against personal liability. This feature is especially useful when a person is injured within your premises. HO-3 is the most basic of home insurance policies and it covers these including damages by fire and thefts.
Those who do not own a proper home can also take homeowner’s insurance. People who own mobile homes, which can be attached to vehicles and towed; can also get mobile home insurance.
If you do not own a home but live in rented accommodation, you can get the renter’s insurance which protects your belongings. It also offers you alternated living expenses, which means in case the premises needs repair after a damage and you are not allowed to stay within, then you can go in a hotel and stay with even your food expenses paid for.