Property_Hub

PROPERTY INSURANCE: TYPES OF COVERAGE, CLAIMS PROCESS, AND COVERAGE GAPS   Property insurance  provides protection for possible risks that occur to property, such as fire, theft and some weather damage.   It   protects individuals and businesses from financial losses due to damage or loss of physical assets. Various coverage options, a structured claims process, and potential gaps that policyholders should be aware of are included. 1. Types of Property Insurance Coverage Various types of property insurance handle different risks, including natural disasters, theft, and liability. a. Homeowners Insurance:  Covers damages to a residential property, including fire, storms, and vandalism, that is called Dwelling Coverage. Insurance that covers personal belongings against theft or damage is called Personal Property Coverage, the insurance that protects against legal claims when someone is injured on the property is called Liability Coverage. ...