Someone who owns a home. This can be a person, corporation, group or entity.

Homeowners insurance can be a combination or package of coverages. These can include coverage for the most basic of perils including fire, smoke and lightning and be expanded to the more comprehensive package.

Your package could include sewer back up, earthquake, guaranteed replacement cost, identity theft, graveside markers and by-laws to name but a few of the available options.

If you do not have a mortgage then you do not have to purchase insurance. It is usually done to protect your asset in case of catastrophe.

Homeowner insurance can often include coverage for a small boat, vacation trailers and have expanded coverage for higher risk items including jewellery, coins, sporting equipment, fine arts and electronics.

If you have a home business there is coverage available for certain occupations under the home insurance. The limits can be $25,000 for equipment or contents with some built-in coverages at a reasonable price.

Your home insurance does allow for you to have an incidental office at home. An example would be if you sell real estate and have an office in another building. Then your home office is regarded as incidental.

Different insurance companies will offer higher limits, expanded coverage and varying discounts. It is best to consider what you want and then go looking for who will give you the best coverage and reasonable rates. Talk to your agent or broker - do your research.