Homeowners is one of the most popular forms of personal insurance on the market.
Almost anyone who owns or leases property should have this type of insurance. Often, homeowners insurance is required by lenders as a requirement to obtain a mortgage. Covered losses under a homeowners policy can be paid on either an actual cash value basis or on a replacement cost basis. You set the limit for Coverage A when you buy the policy. For example, suppose that while traveling, you purchased a dresser and you wanted to ship it home.