Insurance Giant Raises Cap on California Homeowners Policies with Higher Costs
A major insurer has increased coverage limits for homeowners in California, though the change comes alongside higher policy expenses.
Summary
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Terms & Concepts
Homeowners Policy: An insurance contract that provides financial protection for a residence and its contents against losses such as fire, theft, or certain natural disasters.
Coverage Limit: The maximum amount an insurance company will pay for a covered loss under a policy.