Property Insurance


Property Insurance is concerned with providing financial reimbursement to the owner or renter of the property. It also covers the structure and the contents of a home in the event of theft and damage. Property Insurance includes renters’ insurance, homeowners’ insurance, earthquake insurance and flood insurance. Property insurance can provide property owners with protections against theft, natural disasters, adverse weather conditions, along with other perils.

Insurers often offer insurance policies for houses, apartments, residential units, equipment, movable property, livestock, forests, and forest stands. In terms of movable property, insurers are known to offer policies that include household appliances and utensils, audio equipment, video equipment, computer, furniture, and clothing. It can also be extended for pets and livestock, such as sheep and goats. Household equipment, including fences, gates, outdoor fireplaces, pools, and open-air construction can also be covered.

Types of Property Insurance

It’s important for owners to invest in property insurance so that they are able to protect their prized possessions. Some of the policies that insurers provide can be seen below.

Homeowners’ Insurance

If you’re just looking to protect your private home, the homeowners’ insurance is the perfect choice for you. This policy will cover hazards, such as damage from lightning, hail, wind, fire, liability, medical coverage, and personal injury.

Landlord Insurance

Renting your home is seen as a business – so a rented home will not be eligible for the homeowners’ insurance. You will need to get a landlord insurance, which can be pricey – but it’s important to have. If there are any unexpected damages to the property that your specific insurance covers, you won’t have to pay anything out of your pocket. Landlords can get basic policies that cover any damage to the property but don’t cover appliances, furniture, and other items within the house. This policy can be extended to offer protection for various additional items.

Renters’ Insurance

Renters’ insurance is important because a general landlord insurance does not cover the renters’ property. If a renter and landlord’s property is lost, only the latter will receive benefits from payments through the insurance. The renter will have to cover the costs of replacements from their own pockets.

Condominium Unit Owners

Though your condominium association will have an insurance policy, it won’t cover your personal property or any additional parts of your unit. Generally, these policies cover any damages from lightning, fire, hail, windstorm, plumbing system freeze, and theft.

Farm and Ranch Insurance

Farms and ranches require a different type of coverage than for those for homeowners. Insurers are able to cater your policy to your requirements. These policies generally cover your personal property and the farm’s property.


Property insurances typically do not cover water damages caused by standing water, groundwater seepage, sewer backups, drain backups, tsunamis, floods, and more. Though depending on the policy, insurers might not provide cover for earthquakes, mold, acts of war and nuclear events.

Before you commit to any property insurance policy, it’s recommended that you consult local regulations to ensure that you’re in compliance with the law. You should also obtain any mandatory coverage. No matter if you’re a homeowner, landlord, renter, condominium unit owner, farm owner, ranch owner, or any other property owner – you should always read your policy agreements carefully.