Home Insurance for a Philadelphia Homeowner

A drive down a single city street will show single family homes, apartment buildings, condominiums and even a few town houses scattered throughout the area. It is almost a certainty that each of these dwellings has home insurance from a Philadelphia insurance agent or company.

Single family homes will have different options available than a condominium or apartment however. For example home insurance for a Philadelphia house will include complete coverage on the entire physical structure, and may even include any garages, sheds or other additional structures in the plan.

The policy will also protect all of a homeowner's personal property contained in or on the grounds as well. It will also provide some funding for temporary housing should a home be damaged and require repairs.

Finally, most home insurance policies will provide liability coverage on property, which means that anyone who is injured in the home or on the grounds will be able to make a claim against the policy without the homeowner paying any out of pocket expenses.

Apartments, condominiums and townhouses will require a different home insurance policy from their Philadelphia agents or companies. Because these structures usually provide homes to two or more individuals they are traditionally covered by a "master" policy that applies to all "common" areas of a building. This means the roofs, basements, hallways and stairwells; heating, air conditioning, electrical and plumbing systems will be covered by an insurance policy purchased by the building's owners or regulatory agency, such as a Board.

The apartment, condominium or townhouse owner will have a home insurance policy that covers their property, any improvements they have made to their space, funds for temporary housing due to fire or disaster in the building, and also a liability option for visitors and guests and damages that may be the fault of the property owner.

There are even options for home insurance for Philadelphia area renters. Called a "renter's" insurance policy these plans will cover personal property, offer liability coverage in case the renter causes harm or damage to the property, and will provide emergency shelter funds if a rental property is damaged or destroyed by fire, disaster or at the fault of a renter or other tenant.

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