Definitions for "homeowners insurance"
Insurance that combines liability insurance and hazard insurance. Required by most mortgage lenders.
An early and hugely successful example of "packaged" property and liability insurance. A mid-twentieth century insurance development was introduction of the so-called "multi-line era" in which insurers became empowered to write both property and liability forms of insurance, making way for the first packaging of these coverages within a single policy.
This insurance includes hazard coverage for any damages that may affect the value of a house, in addition to personal liability and theft coverage.