What is Covered by Standard Homeowners Insurance?
Homeowner's insurance is not a luxury but is a necessity. Because it protects your home and belongings against damage or theft. Virtually all the mortgage companies require borrowers to have insurance coverage for the full or fair value of the property [ mainly the purchase price]. They won't make a loan or finance a residential real estate transaction without proof of it! You do not need to possess your home if you need insurance. Many landlords require their tenants to maintain their renter's insurance coverage. But whether it is necessary or not, it is wise to have this kind of protection. Meanwhile, the homeowner's insurance cost depends on several factors, including the coverages you select, the features of your home, and the value of your belongings. As a result, there may be extra costs for additional coverage that fit your needs and help regulate if you are eligible for any policy discounts. Let us walk through the basics of what covers under the homeowner&#