Why You Need Homeowner’s Insurance

May 8th, 2018

If you’re in the market for a new home, whether a resale or new construction, your mortgage lender will require that you have homeowner’s insurance for the home you want to buy.  This type of insurance covers a number of issues that are important to you as the buyer, and to your mortgage lender as the holder of the mortgage. 

The two most critical of these issues are property replacement and liability.  Property replacement covers damage to your home.  For example, if a tree falls on your roof or there’s a fire in your kitchen, your policy would help pay for your loss.  Liability protection covers you if someone gets hurt on your property.  This could happen if a visitor slips and falls, or if a pet accidently bites someone.  Every property and every policy is different, so it’s important to carefully evaluate what coverages you may need for your specific situation. For more information about homeowner’s insurance, take a look at this helpful article from homeinsurance.com.

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