To protect the home you own from damages, you need what type of insurance?

Homeowner's insurance is specifically designed to protect homeowners from a variety of risks and damages related to their property. This type of insurance typically covers the structure of the house itself, personal property within the home, liability for injuries that occur on the property, and loss of use if the home becomes uninhabitable due to covered damages.

For instance, homeowner's insurance might cover incidents such as fire, theft, or natural disasters, providing the homeowner with financial assistance to repair or replace their home and belongings. It is essential for anyone who owns a home, as it safeguards their investment and offers peace of mind against unforeseen events.

In contrast, renter's insurance is aimed at individuals who are renting their living space and does not cover the physical structure of the property but rather the renter’s personal belongings. Collision insurance is primarily for vehicles and covers damages from car accidents, while life insurance provides financial protection to designated beneficiaries after the policyholder's death. Thus, homeowner's insurance is the appropriate choice for individuals seeking to protect their home from damages.