Home insurance is a type of insurance policy that covers losses and damages to the home and/or its contents. Home insurance protects homeowners from perils such as fire, flood, vandalism, theft, malicious damage, water, wind, hurricane, earthquake, the weight of snow, hail, and more. Insured perils and amount of coverage are listed in the policy documents. Coverage varies according to the type of policy. Some policies cover only the building, while some include contents. There are also other benefits that may be included in the homeowners insurance policy such as Additional Living Expenses, which is the added cost the insured incurs when using alternative accommodation if the home is uninhabitable.
The effects of climate change are pushing up the costs of home insurance. Extreme weather events such as storms, floods and wildfires have become more frequent and severe [1]
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