Home insurance, which is also called hazard insurance or homeowners insurance, provides coverage for the damage or destruction of the policyholder’s home.
In some geographical areas, the insurance policy may specifically exclude certain types of risks, such as flood or earthquake, that will require additional coverage. Maintenance-related issues are, however, the homeowner’s responsibility.
The insurance policy may include inventory, or this may be offered as a separate policy, especially for people who rent housing. In other countries, insurance companies may offer packages that may include liability and legal responsibility for injuries or property damage caused by members of the household, including pets.