Home insurance is an insurance policy that covers the cost or damage to your house or any other insured property. With such a policy one can cover their homes against unforeseen loss or damage. My brother wanted to avail of this policy and hence wanted to know is building insurance the same as home insurance the same or not. I believed both are the same but no, they are different. Let me share the building insurance vs home insurance differences to help you understand the concept better.
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What is the difference between building insurance and home insurance?Home insurance is a policy that contains the coverage that one needs to protect all aspects of the house. Building insurance is one of those coverages. Here is the list of differences between home insurance and building insurance
| Building Insurance | Home Insurance |
Covers the damage that happened to the physical structure of the building |
Covers damage that happened to the contents of the home |
Covers damages due to flood, fire, hail, and other natural disasters |
Covers damages due to theft, vandalism, and other criminal activities |
Provide coverage for outdoor structures |
Provides coverage for personal liability |
Cover the cost of rebuilding the building from the ground up |
Cover the additional living expenses if the home becomes uninhabitable |
So based on your needs you can choose which will be better for you. I hope this answer is building insurance the same as home insurance or not.
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Authors Of The Question
Is Building Insurance the Same as Home Insurance?
Tanurima
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2 Year
2023-02-28T15:10:40+00:00 2023-02-28T15:25:38+00:00Comment
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