When people shop for home insurance, they are seeking not just one type of coverage, but possibly several different varieties. Homeowners insurance, renters' insurance, and condo insurance are all typically included within the category of home insurance. Whether you own the property that you live in or are renting it, you need to have insurance coverage to guard against disasters and losses.

A homeowner's policy is for people who own their home. This may be either a house or a condominium. Essentially, if you are making payments on the home with ownership as the end goal, you will need homeowners' insurance. This type of policy will cover both the outside of the home and the contents of your home. It will cover most disasters and will allow you to replace or rebuild the damaged property. If a thief breaks into your home and items are stolen, your insurance will help replace those items and pay for any damage in terms of vandalism created by the thief. You will want similar coverage for your lake house or vacation home.

With a renter's policy, the coverage includes the inner contents of the home, apartment, or room that you are renting. This is coverage for break-ins, disasters, fires, and other circumstances that are beyond your control. Even though your landlord will have a homeowner's or building policy on the place you are living, it does not cover your personal items.

Want more liability coverage? An umbrella policy is often added to a Homeowners and Auto Policy package giving you the maximum coverage at the most affordable packaged cost.

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