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Home insurance, also commonly called hazard insurance or homeowners insurance (often abbreviated in the real estate industry as HOI), is the type of property insurance that covers private homes. The home insurance payment the insured makes to the insurer is called a premium. The insured must pay the insurer the premium for their home insurance each term. Your home insurance usually safeguards you in two ways: financial loss and personal liability. For example, if you live in an apartment building and your bathtub overflows, resulting in damage to your neighbor’s apartment, your home insurance will pay for repairs or replacement. In addition, cheap home insurance is unlikely to cover you against theft of expensive items in your home. Information on your homeowner insurance lead is well organized and contains full contact information on the prospective home insurance applicant, address of properties to be covered and all other relevant information most insurance professionals needs to provide home owner insurance quote.