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.
- 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.