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Canada (161,808)
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BU353 (31)
Chapter 12

Chapter 12.docx

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Heather Graham

Chapter 12Homeowners InsuranceHomeowners policies are multipleline policies they provide coverage for firstparty property thirdparty liability voluntary medical payments and voluntary payment for property damage of othersIf the policy lists the perils that are covered it is called a specified or named perils policyIn other cases the policy covers all perils except those specifically excluded known as an all risk or all perils policy Section I provides coverage for damage to both buildings and personal property due to a broad range of perilsSection II provides coverage for compensatory damages and defense costs for unintentional bodily injury and property damage to third parties that arise from accidents at the residence or that result from actions of the insuredSection IADwelling Building covers the policyholders main residence attached structures permanentlyinstalled outdoor equipment fences swimming pool etcBDetached Private Structures covers structures not attached to main residence garages etcCPersonal Property covers items that are owned or used by the insured regardless of whether they are lost or damaged at the insureds premises or
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