A Massachusetts Guide to Understanding the Insurance Policy Covering Your Home

Whether you own or rent, there are different packages of insurance offered to protect your home and belongings. Each package can protect against a specific number of perils (events that cause damage to property). Three examples of common perils protected under a home insurance package are losses due to fire, windstorm, and theft.

Each policy package usually defines what types of losses are covered in the event of a covered peril. In the standard policy, a home insurance plan may cover losses such as:
(1) the costs to repair or replace damaged property,
(2) additional living expenses due to loss of use,
(3) personal liability which is the cost of losses to others allegedly due to your negligence, and
(4) the cost of medical payments to others.

 Damage to real property (expand)
 Loss of use (expand)
 Personal liability (expand)
 Mobile home insurance (expand)
 Renters insurance (expand)
 Condominium Unit Owners Insurance (expand)
 Optional coverage (expand)