When you have finished this chapter, you should be able to
Although the homeowners policy does an adequate job of protecting the assets of persons eligible for coverage, some properties are ineligible for a homeowners policy. In addition, although the homeowners policy protects many types of personal property owned by individuals, some property is excluded, and the coverage on other classes is limited. Finally, while the homeowners policy protects against a wide range of perils, it does not cover flood, and protection against this peril must be obtained separately. For these reasons, additional forms of coverage are often needed by persons with specialized exposure.
In this chapter, we conclude our discussion of property insurance for the individual and the family with a brief look at several additional ...