What is typically included in a homeowner's insurance policy?

A homeowner's insurance policy generally includes both property and liability coverage, which provides comprehensive protection for homeowners. Property coverage protects the physical structure of the home as well as personal belongings against risks such as fire, theft, or vandalism. This means that if any damage occurs to the house or the homeowners' possessions, this part of the policy will assist with the financial burden of repair or replacement.

Liability coverage, on the other hand, protects homeowners if someone is injured on their property or if they are responsible for damage to someone else's property. This is crucial as it helps cover legal costs and settlements that may arise from such incidents, ensuring that homeowners are safeguarded against potential lawsuits.

While some policies may offer additional coverage options for specific risks, such as earthquake or flood insurance, these are typically not standard inclusions and usually require endorsements or separate policies. Therefore, the combination of property and liability coverage is a fundamental aspect of a homeowner's insurance policy, aligning with the typical structure of such insurance products.