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Feb 24

HOMEOWNERS, ARE YOU COVERED?

Learn the basic facts about homeowners insurance…

Your policy should protect:

  • Structure of your home.
  • Personal belongings.
  • Personal injury law-suit.

Mortgage Insurance Vs. Homeowners Insurance:

  • Mortgage insurance does NOT insure YOUR HOME.  It insures the BANK if you default on your loan.
  • Homeowners insurance provides coverage for your home in the event of a loss.

Cost Factors:

  • Value of your home (Replacement cost, not Market value).
  • Crime rate in your area.
  • Amount of prior claims.
  • The state in which you reside.

Check with your local independent insurance agent for more information.

Home Insurance

1 comment

  1. Nash Rich

    I have never actually heard of mortgage insurance before. It makes sense that it wouldn’t insure your home though. I also thought it was interesting that crime rate in your area can affect your insurance. I guess that’s another good reason to live in a good neighborhood.

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