home insurance, or property insurance, is an insurance contract which covers any loses occurred to someone’s house. This includes loses due of home content, the use of the house or accidents happening inside the house. That is why this type of insurance is called multiple line insurance because in one contract, you cover all the risks.
The premium paid to the insurance company depends on many factors: the house’s age, the use of the property (seasonal or primary house), the price of the house and the number of house owners.
Some types of risks are not covered, these are the “Act of God” events, like flood, earthquake or war. While fire insurance requires the installation of smoke detector.
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