Habitation

What Does Habitation Mean?

Habitation refers to the right to dwell or reside in a property.

Insuranceopedia Explains Habitation

Depending on the contract, the occupant may be restricted from using the property for purposes other than habitation, such as commercial activities.

Insurers offer products to cover financial risks related to habitation, including perils like theft or natural disasters. For owner-occupants, this usually means buying a policy from one of the best homeowners insurance companies, while tenants can get equivalent protection through renters insurance. Owners of inhabited commercial properties, such as condominiums or hotels, can also purchase property insurance to protect themselves against various risks. Condo unit owners typically buy a separate HO-6 policy to cover the interior of their unit and their personal belongings, and the best condo insurance companies often differ from the general homeowners market on pricing and endorsements.