Types of Home Owners Insurance

Types of Home Insurance Policies You Can Buy and What They Cover

There are several types of insurance polices you can purchase. Please remember that the wording and what is covered may vary within these general categories from one insurance company to another. For details specific to your Personal Home Insurance needs, please consult with your area Insurance Broker.


This is the most inclusive home insurance policy; it covers both the building and its contents for all risks, except for those specifically excluded.

Basic/Named Perils

If you are looking to save money by carrying the financial risk of some losses yourself, you may wish to consider a named perils policy that covers only those perils that are specifically stated in the policy.


If the comprehensive policy costs more than you want to pay and the named perils policy seems too risky, a mid-priced compromise is the broad insurance policy. This policy provides comprehensive coverage on the big-ticket items like the building and named perils coverage on the contents.

No Frills

Some insurers offer very basic or “No Frills” coverage for properties that don’t meet their normal standards. If there are physical problems with your home that keep it from meeting insurers' standards, you may save money in the long run by correcting these problems in order to qualify for better coverage.


HenryL Lam

HenryL Lam

Sales Representative
CENTURY 21 Leading Edge Realty Inc., Brokerage*
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