Definition, Meaning & Synonyms
residence-insurance
Noun
/ˈrɛzɪdəns ˌɪnˈʃʊərəns/

Definition
A type of insurance policy that provides coverage for a homeowner’s dwelling and possessions within it.

Examples
- After purchasing a new home, they immediately sought residence insurance to protect their investment.
- Many lenders require residence insurance before approving a mortgage.
- The residence insurance policy covered damages caused by a storm last winter.

Meaning
Residence insurance protects the physical structure of a home as well as the homeowner’s personal property from various risks such as fire, theft, and natural disasters.

Synonyms
- Home insurance
- Property insurance
- Householder’s insurance