Source(s)

Burger K. Study Reveals Most Homeowners Support Home Safety Requirements. Insurance Research Council. 2003.

U.S. Census Bureau, Current Housing Reports, Series H150/03, American Housing Survey for the United States: 2003 U.S. Government Printing Office, Washington, DC, 20401 Printed in 2004

Definitions

The typical homeowners insurance policy covers the house, the garage and other structures on the property, as well as personal possessions inside the house such as furniture, appliances and clothing, against a wide variety of perils including windstorms, fire and theft. The extent of the perils covered depends on the type of policy. An all-risk policy offers the broadest coverage. This covers all perils except those specifically excluded in the policy. Homeowners insurance also covers additional living expenses. Known as Loss of Use, this provision in the policy reimburses the policyholder for the extra cost of living elsewhere while the house is being restored after a disaster. The liability portion of the policy covers the homeowner for accidental injuries caused to third parties and/or their property, such as a guest slipping and falling down improperly maintained stairs. Coverage for flood and earthquake damage is excluded and must be purchased separately.

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Odds Statement provided by Book of Odds Inc., http://www.bookofodds.com/content/view/full/501949 (Accessed: )

Rounding Rules

Odds more likely than 1 in 10, such as 1 in 3.42, are rounded to three significant digits. Odds less likely than 1 in 10, such as 1 in 420.4, are rounded to four significant digits. Trailing zeros after the decimal point are dropped for readability, even though they may still be significant.

Odds you'll see: 1 in 4.26; 14.5; 143; 5,230; 433,200

Odds you won't see: 1 in 2.412; 63.042; 425,242c