What Are the 8 Types of Homeowners Insurance?

Choosing the right type of homeowners insurance can save you when disaster strikes. Jakub Krechowicz/Shutterstock

Homeowners insurance is one of those things most people buy and then forget about—that is, until they need it. Choosing the right type of homeowners insurance can save you when disaster strikes.

There are eight different types of homeowners insurance, and it’s important to understand what they are when insuring your home. But how do you determine the correct category or type of insurance?

How to Determine Types of Insurance

To determine the right type of homeowners insurance, you must consider the type of property you own. For example, some properties could be:

• single-family homes
• condos
• mobile homes
• rentals
• historical homes

You’ll also need to consider the level of coverage you desire. This includes factors like replacement cost versus cash value. You’ll also want to determine if you need additional coverage for specific risks.