Policy Types
Homeowners Package Policy generally cover the dwelling, separate structures
and loss of use on an accidental direct physical loss basis and the personal property on a
named-peril basis. The named perils include such perils as fire, extended coverage, broad form
and theft. In addition, this policy protects you and your family members against damages for which
you are legally responsible, arising from bodily injury or property damage.
Renters Package Policy cover the renter's personal property and building additions and
alterations and loss of use on a named-peril basis. In addition, this policy protects you and
your family members against damages for which you are legally responsible, arising from bodily
injury or property damage.
Townhouse and Condominium Owners Policy covers the dwelling and separate structures on an
accidental direct physical loss basis and personal property on a named-peril basis. Loss of Use
is covered on an accidental direct physical loss basis for Townhouse and on a named peril-basis
for Condominium. In addition, this policy protects you and your family members against damages for
which you are legally responsible, arising from bodily injury or property damage.
Here is a list of the named perils covered:
1. Fire or lightning damage
2. Windstorm or hail damage
3. Damage caused by explosion
4. Damage caused by riots or civil disturbance
5. Aircraft damage
6. Vehicle damage
7. Smoke damage
8. Vandalism or malicious mischief
9. Loss from theft
10. Glass breakage
11. Damage caused by volcanic eruption
12. Falling objects
13. Damage caused by collapse due to weight of ice, snow or sleet
14. Freezing damage to plumbing, heating/air conditioning or household appliances
15. Accidental discharge or overflow of water from plumbing or a heating/air- conditioning system
16. Damage from a sudden and accidental discharge of an artificially generated electrical current
17. Damage caused by sudden and accidental tearing apart, cracking, burning or bulging of a
heating/air-conditioning system, a fire-prevention sprinkler system or an appliance for heating water
Here is a list of a few perils commonly EXCLUDED from homeowners policies (Check your policy for specific exclusions):
1. Damage caused by flood
2. Damage caused by earthquake
3. Damage caused by war or nuclear accident
4. Damage caused by earth movement
Renters and Condominium Insurance
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Apartments and Condominium Associations generally carry insurance that covers the building.
You need insurance to cover your own possessions. Renters and Condo insurance policies cover your
personal property, including: furniture, clothing, drapes and decorations, appliances, etc.
Valuables such as jewelry, computers, art and silverware require additional insurance provided
by a "rider" to your policy. In addition to property coverage, most of these policies
include liability coverage to protect you if someone is injured due to your negligence.