Homeowners Insurance Law and Legal Definition

Homeowner’s Insurance is a kind of property insurance that is designed to protect an individual's home against damages to the house itself, or to possessions in the home. It also provides liability coverage against accidents in the home or on the property.

In the U.S. there are seven forms of homeowners insurance. They range in name from HO-1 through HO-8. Each form offers various levels of protection depending on the needs of the homeowner.

Pursuant to D.C. Code § 31-5002, the term "homeowner's insurance" means insurance for residential property that provides a combination of coverages, including fire, extended coverage, vandalism and malicious mischief, burglary, theft, and personal liability. The term shall include a policy of insurance which is limited to basic market value, repair cost, or actual cash value contracts for owner-occupants of one-to-four-family dwellings as approved by the Commissioner.