- Homeowners Insurance
- By 19 December 2018
A homeowners insurance policy is a type of property insurance that protects you from losses and damages to your home and personal belongings. Additionally, it provides you with liability coverage that protects you from lawsuits stemming from accidents that occur on your property. Â
Homeowners need to understand the importance of obtaining homeowners insurance coverage and the different things it covers.
You can acquire homeowners insurance coverage either through your lender or separately. You cannot get a mortgage without it, as you will be required to provide the lender with proof of insurance on the house before they can give you a loan.
You can compare the different policies and select one that suits your needs and requirements. Payments are usually grouped within your monthly mortgage payments. It is essential that you get a homeowners insurance policy, as it protects you against unexpected events and incidents that may arise.
A basic homeowners insurance policy covers the following things:
However, this is just basic coverage provided by a homeowners insurance policy. You would be surprised to learn that most cover more than just your house and personal belongings.
Homeowners insurance policies also cover the following things:
Remember that the items covered under a homeowners insurance policy differ from state to state. However, the list above includes the basic coverage of most homeowners insurance policies.
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