Definition for: Homeowners Insurance
"Homeowner's insurance" is an insurance product designed to indemnify a homeowner for covered losses to the home or, in many cases, to the homeowner's personal property. Most homeowner's insurance policies also cover the homeowner's liability to others, including guests who may be injured on the property. There are a wide variety of different policies, but covered losses typically include unexpected events such as fire, hail, damage, and theft. Damage from floods is almost never covered, but this may be purchased separately as flood insurance.
