Types of Personal Property Policies
There are three types of personal property policies: homeowners, condominium and tenants.
Homeowners insurance is designed for people who own the property that they live in. It includes coverage of the main building, outbuildings such as sheds and garages, contents and liability.
Condominium insurance includes contents coverage and has special considerations relating to the building, which is owned collectively by the people who live in it.
Tenants insurance covers people who rent their homes or apartments. A tenants package policy covers a renter's personal property and protects them in the event that they accidentally damage the premises they rent.