What is the difference between fire insurance and home insurance? Do you have to buy it? | Compare the coverage and applicable persons of home insurance and fire insurance

Fire Insurance is the full name of "Building Structure Insurance" or "Building Comprehensive Insurance". It mainly protects the building structure, including walls, floors, ceilings, doors and windows, and the decoration that the insured owner has when purchasing the property. When the owner buys a house and applies for a mortgage, the bank will require the owner to purchase fire insurance to protect the safety of the building structure. If the building encounters losses caused by accidents such as flooding, fire, typhoon, etc.,Fire insurance will compensate for the cost of replacement or even reconstruction due to damage to the building structure。

Violation of the Building Ordinance may invalidate fire insurance
Since fire insurance mainly covers the structure of the building, if the structure of the unit is altered in a way that violates the Building Ordinance, such as demolishing the main wall, the insurance company may terminate the fire insurance coverage of the unit. Therefore, before carrying out renovation work, the owner should consult professionals in advance to avoid losing the insurance.

Home Insurance (Contents Insurance or Home Insurance) protects against loss and damage to home contents caused by accidents, such as money, collectibles, furniture, household appliances, and general home repair issues, such as water leaks, typhoon, and fire. Some home insurance policies also cover the loss of property of the homeowner, such as damage to home appliances or deterioration of decoration, and even property that is not lost at home may also be covered.

Third-party liability protection in home insurance

Generally, home insurance provides third-party liability protection, which is compensation for personal injury or property damage caused to third parties due to negligence of members of the living unit, such as water pipe burst in the unit causing flooding in the neighbor's unit. However, the specific coverage and compensation amount will vary from insurance company to insurance company. When purchasing insurance, you should pay special attention to the terms and conditions to ensure that the insurance plan meets your personal needs.

Home insurance does not cover fire insurance. Many people confuse fire insurance with home insurance. Although both protect property, fire insurance mainly protects the building structure, which is the "shell" of the residential unit; home insurance mainly protects home contents, which is the "inner room" of the unit. The former is only available to owners, while the latter is applicable to owners, tenants, and other individuals in need.