Types of converge for your property Home property insurance converges allow financial obligations in the result of any injuries to anyone caused in the boundaries of the property insured. If a person wants to sue the insurance company and want to take any action regarding the company in the court, home property insurance will pay all the fees of court. Business property insurance is one of the important things that could help you to run your business effectively. Business property insurance binds the business together for better results. Usually, a business is prone to various perils, which could result in downgrade of your business. So, acquiring a policy of business property insurance at the first place is must. In such cases, the citizen property insurance will pay for the repair. In the same way, citizen property insurance ensures the monetary compensation to replace the damaged car with the new one, if the repairs are not enough. These insurance policies also provide liable cover on the cost of renovation and reconstruction of a building, which has been damaged due to earthquake or fire. Also if anyone gets injured while he is visiting you, then the insurance company would pay the medical expenses. House property mortgage and insurance: House property insurance is necessary nearly by all the lending departments before you got approved for mortgaging your property because they use it as legal formality and surety. With the structure of the house, investment property insurance also offers liable cover to the additional structures and content of the home. Swimming pools, patios, barn houses, gazebos, etc. Some of the policies of the investment property insurance are specifically designed for proprietors. The proprietor gets protected from the tenant living on rent by these types of policy of residential investment property insurance. Definition: An insurance policy that protects a mortgage lender or title holder in the event that the person who borrows defaults on the payments, dies, or is otherwise unable to meet the contractual obligations of the mortgage. Mortgage insurance can refer to private mortgage insurance (PMI), mortgage life insurance, or mortgage title insurance.