Etini Willie
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Property insurance generally protects a person against unfortunate situations and perils that can happen to a property. In life, there are no guarantees. A building or a property can just catch fire or get caught up in a hurricane, the insurance policy would replace the property for the insurance holder. There are various types of property insurance. In this post, we will be looking at two of them. These are 1) Homeowners Insurance Policy and 2) a Commercial property insurance policy.
A homeowners insurance policy is an insurance that covers losses and damage to an owner's residence, furnishings, and other possessions. Commercial property insurance protects your company's physical assets from fire, explosions, burst pipes, storms, theft, and vandalism. While the two of them are property insurance, they are slightly different. The major difference between the two types of property insurance is in the coverage of the insurance policy. A homeowners insurance policy takes up the cost of unexpected occurrences in your home. Commercial property insurance is all this and extends to cover the cost of the properties of other people in your care which you are making use of. It recognizes that as a commercial entity, there might be equipment that didn't belong to you but are affected by an incidence in your property, they bear the cost of that too for the business organization.
A homeowners insurance policy is an insurance that covers losses and damage to an owner's residence, furnishings, and other possessions. Commercial property insurance protects your company's physical assets from fire, explosions, burst pipes, storms, theft, and vandalism. While the two of them are property insurance, they are slightly different. The major difference between the two types of property insurance is in the coverage of the insurance policy. A homeowners insurance policy takes up the cost of unexpected occurrences in your home. Commercial property insurance is all this and extends to cover the cost of the properties of other people in your care which you are making use of. It recognizes that as a commercial entity, there might be equipment that didn't belong to you but are affected by an incidence in your property, they bear the cost of that too for the business organization.
