If you plan to get a homeowner’s insurance, it will be a good idea if you knew some of the terms that they use to describe in the policy. In this way you will know what you are getting and it will be easier for you to interact with the insurance provider of what you need.

Homeowner’s policy A legal contract between an individual and the insurance company designed to provide protection against various categories of loss to private property.
Premiums This is the amount of money an insurance company charges to provide the loss and damage protection desired by the private property owner.
Policy term This is the length of time, (usually one year), that the homeowner’s policy remains in force.
Property insurance A legal contract between an individual and the insurance company that details compensation in cases of loss to private property owned by the individual.
Hazard insurance This is another term for homeowner’s or property insurance.
Liability insurance This is a component of the homeowner’s contract that spells out protection from liability when someone is injured on or close to the owned property.
Liability suite The term used to describe legal actions taken when a property owner is found to be at fault in situations involving loss or injury on his private property.
Acts of God This covers environmental occurrences over which a property owner has no direct control, such as a tornado, flood or earthquake, or even war.
Limited policy A legal contract between an individual and the insurance company designed to cover loss or damage to a particular object, such as a painting.
Named perils policy A contract between an individual and the insurance company detailing specific instances where damages to private property would be compensated for.
All risk or open perils policy This is a homeowner’s insurance policy that covers all events that could damage private property as well as liability suite coverage.
Renter’s coverage This is a homeowner’s contract designed to protect the personal property of a renter, over and above a blanket contract that protects the property owner.
Blanket Contract This is an insurance policy that covers loss or damage to a property that is used for dwelling rentals. It does not cover contents owned by renters.
Dwelling Fire This is another term for the blanket contract above.
Rider A special addition to the basic homeowner’s insurance policy listing specific items or instances that would be protected against loss or damage.
Risk Information This refers to information about any activity that could create a situation where damages may occur. It would include information on proximity to fire protection and neighboring hazardous activities.
Mortgage loan or property lien A specific amount of money advanced to a private property owner to secure the purchase of the property or contents, giving the lending entity first place before the owner, in the event damage payments are due from the insurance company.
Perpetual insurance This is a type of homeowner’s insurance without a fixed term that is available in some areas of the United States.
Flood and earthquake insurance These are examples of specific coverage that can be included in a rider to a homeowner’s insurance policy.

These terms are the most common ones however there are others, so when in doubt, make sure to ask your insurance provider.