If the examiner detects a problem or finds a "cloud", than it is corrected by the examiner of title. So, what is the necessity of home title property insurance? If title of property is concluded fine then the requirement of home title property insurance decreases. Well, this not true at all. Also, according to the requirements of the business, property insurance offers insurance coverage to glass, crime, outdoor signs, and other properties. Why property insurance is required? The property insurance company covers the repair or damage loss of the property due to theft or fire. So, if a person is required to replace or repair the property because it is damaged due to fire or other incident than property insurance will compensate monetarily. It covers all the fixing problems and all the lawyers' bills including the legal fees. Standard perils covered by your property insurance "Perils" in home properly insurance refers to the occurrence of damages caused by it. Many insurance companies have a brief description about the perils occur by the policies and they also consider those damages. Policy # 3: The third policy of house property insurance is also sometimes called special house owner policy. This policy covers all types of perils other than those who specifically omitted in the contract. The expense for this type of policy is 10% to 15% more than the first one. Policy # 4: The forth type of house property insurance is basically facilitate the property owners who rented their property which includes 17 different perils. These valuable personal properties needed certain insurance coverage from theft or other mishaps. Insurance coverage is required to cover the loss in case of theft or loss of personal articles and items. Especially, students suffer from such property loss; they have more risk of this kind of loss of personal properties. However, the policy holders of commercial property owner receive the compensation from the Federal Government, National Flood Insurance Program. Crime or glass damage is the risk causes that are not included in the policies of commercial property insurance for claim. For such cases, business owners generally choose other insurance companies with more specialized insurance policy.