Is Property Insurance The Same As Homeowners Insurance? 
Homeowners Insurance is a form of Property Insurance . The Insurance Services Office publishes Insurance Forms which are basic coverage contracts sold asinsurance policies by insurance companies . Homeowners Insurance is the most common form of Property Insurance ; this form is generally written for Owner Occupied Single Family Homes but in some cases , it could apply to an Owner Occupied Duplex . To complicate matters further , mortgage companies do not differentiate the coverage form ; they simply define required insurance as ` Hazard Insurance ' ; the hazard being the risk or collateral against which the mortgage company has leant funds . If a single family home is owner occupied , a Homeowners Insurance Policy should be purchased ; if a 1 - 4 unit dwelling is tenant occupied , a Landlords Insurance Policy should be purchased . For residential apartments with 5 + units , a Commercial Form is required and in many cases can be written as a Residential Apartment Policy under a Business Owners Policy -LRB- BOP -RRB- package . For further clarification on the correct form of insurance , contact your insurance carrier or our office and we 'll be happy to answer any further questions . 