Unlike auto insurance, where most policies are relatively similar from vehicle to vehicle, homeowners policies can be quite different based on the type of residence. Residential insurances can be broadly divided into three categories:
- Home Owner Insurance
- Condo Owner Insurance
- Renter's Insurance
For all types of insurance, liability protection and personal property protection are usually included up to certain limits. For condo and homes, most policies will also include property protection which insures your residence in the case of fires, inclement weather, and burglary, among other things. Additional factors that come into play when choosing a plan are the specific requirements outlined by relevant associations (i.e. condominium associations, apartment policies).