How Home Insurance Works
Owners insurance, commonly referred to as home insurance, is a requirement, not a luxury. And not simply because it guards against theft and harm to your valuables and property. Most mortgage lenders demand insurance coverage from borrowers for the full or fair market value of a property (often the purchase price), and they won't approve a loan or fund a residential real estate transaction without seeing confirmation of this insurance. Even if you don't own your house, you still need insurance because many landlords insist that their tenants keep renter's insurance. But having this kind of security is a good idea whether it is necessary or not. We'll go over the fundamentals of homeowner insurance policy with you. You can prepare financially for the unexpected by being aware of your home insurance policy before anything goes wrong. If you are aware of the inner workings of your policy before filing a claim, you are likely to feel more secure about your coverage. Home ...