House insurance, also commonly known as homeowners insurance, covers physical damage to a person's property. When taking out a bond, the financial institution will only approve the mortgage if house insurance has been taken out. House insurance will cover the insured against damage caused by fire, flood, earthquake and much more. House insurance policies will usually have additional benefits for the policy holder such as cover for accommodation costs for the duration of rebuilding or repairs to their property. This will alleviate some of the severe stress experienced in situations where a person's home is severely damaged or completely destroyed. Due to there being a much lower risk of claiming from a house insurance policy, the premiums are generally lower. Factors that influence your risk profile include whether you have a thatched roof, live near a river or dam and geological considerations. House insurance policies usually do not cover damage due to political unrest, civil disturbance or war.