Contents insurance is
insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect ...
that pays for damage to, theft, or loss of, an individual’s personal possessions at home. Some insurance policies also cover items taken out of the home on holiday.
In this context, "possessions" means anything that is not permanently attached to the structure of the home (possessions that are permanently attached to the structure of the home can only be insured via home insurance.) Some contents policies may also include possessions kept in outbuildings or in the garden area attached to the house.
Contents insurance is usually sold alongside
home insurance
Home insurance, also commonly called homeowner's insurance (often abbreviated in the US real estate industry as HOI), is a type of property insurance that covers a private residence. It is an insurance policy that combines various personal insur ...
but it can also be purchased as a stand-alone policy, especially for those who are renting rather than owning their home.
See also
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Legal liability
In law, liable means "responsible or answerable in law; legally obligated". Legal liability concerns both Civil law (common law), civil law and criminal law and can arise from various areas of law, such as contracts, torts, taxes, or fines give ...
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Renters' insurance
Renters' insurance, often called tenants' insurance, is an insurance policy that provides some of the benefits of homeowners' insurance, but does not include coverage for the dwelling, or structure, with the exception of small alterations that a t ...
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Home insurance
Home insurance, also commonly called homeowner's insurance (often abbreviated in the US real estate industry as HOI), is a type of property insurance that covers a private residence. It is an insurance policy that combines various personal insur ...
References
External links
Household contents insurance- Adviceguide
Student Contents Insurance- Student Contents Insurance Guide
{{DEFAULTSORT:Contents Insurance
Types of insurance