Named insured
Every homeowners policy lists a named insured. He is the individual primarily insured underneath the policy and it is usually the same person named about the deed because the owner (when the house is jointly owned, both people ought to be listed because the named insureds). The named insured receives probably the most extensive coverage underneath the homeowners policy--property insurance, personal property insurance, and liability insurance. If tips over to your home (e.g., bad weather shatters your windows, an automobile crashes through your fence), you will be the one to create the claim using the insurance company.
Spouse
In case your spouse resides in your home, he or she is included in personal property and liability insurance, even when he or she isn't identified within the policy.
Children along with other residents
Any those who live in the house are also included in personal property and liability insurance when they are related to you (e.g., your kids, an aging parent) or when they are under 21 years old and in the concern of any a family member. So, in case your daughter moves in with you after college, she'd be covered for private property and liability insurance, even when she's over age 21, but a nonrelative wouldn't.
Employees
Any employees you might have, such as housekeepers, au pairs, or landscapers, are handled by your policy's personal property insurance.
Guests along with other visitors
Your guests along with other invited visitors (instead of trespassers) are covered by personal property insurance, provided you speak to your insurance company at that time you purchase a policy to request this coverage.
Tenants
Although your homeowners policy covers lots of people, there is one group who generally isn't covered--tenants. To safeguard their belongings if the home is damaged, renters will have to get a separate renters insurance plan. A renters policy can provide them with liability protection if a person suffers a personal injury or damage to property due to their negligence.
For those who have an in-law apartment, determining whether your tenant's personal belongings is going to be covered beneath your homeowners policy is trickier. For many insurance companies, a personal entrance may be the deciding factor on whether another renters policy is going to be necessary. For other people, the deciding factor is whether or not the person occupying the in-law apartment is really a relative. Be sure you confirm your coverage together with your insurance agent before you decide to have to file claims.
If you own a house and are renting it, keep in mind that your standard homeowners policy might not be appropriate for you because (1) you don't have to insure the items in the house (unless you're offering it fully furnished), (2) you'll likely need more liability insurance, and (3) you might want to protect yourself from the loss of rental income. If that's the case, you might be thinking about an insurance policy designed especially for rental property.
