Homeowners insurancecan cover damage to your property, whether it's from aburst pipeor a devastating fire. You'll need to file aninsurance claimif you want to get compensated, however, and insurance companies can reject a claim for various reasons — from insufficient documentation to the damage...
Unlike car insurance, home insurance is not required by federal or state law. If you have a mortgage, however, you're usually required to have a policy. Read on:What does homeowners insurance cover? Even without a mortgage, foregoing insurance is a risky move. Without it, you'll have to...
Mortgage insurance is normally required when the borrower is unable to pay a 20% down payment. Homeowners insurance protects the borrower, and mortgage insurance protects the lender, though the borrower will pay both premiums. Is Home Insurance the Same as a Warranty? A home warranty should pay ...
Homeowners insurance is a must if you have a mortgage. Here’s a guide to why you need homeowners insurance, and how it differs from other types of insurance.
What is homeowners insurance? Homeowners insurance is coverage you can buy to protect yourself financially against certain types of damage and lawsuits. To get this coverage, you pay an insurance company a certain amount of money, called a premium. In return, the company will pay you if a cov...
’re one of the lucky buyers able to drop an all-cash payment for your abode, you may not be required to take out a homeowners insurance policy. That said, there are still benefits to having homeowners insurance, detailed below, so don’t rule it out just because it’s not required....
Homeowners are pressured to sign an assignment of benefits form, giving contractors the right to file an insurance claim on their behalf. A claims adjuster from the insurance company inspects the alleged damage. The adjuster either finds no damage or far more minimal damage than the contractor fo...
To save on auto insurance, bundle it with other insurance policies, like homeowners insurance. Why You Need Auto Insurance You need auto insurance because most states require it. State requirements are otherwise known as statutory insurance, while optional add-ons are known as supplemental insurance...
Homeowners insurance covers losses and damage to an owner's residence, furnishings, and other possessions, as well as providing liability protection..
your property, theft or damage to personal belongings, and liability. Homeowners insurance may cover wind damage due to hurricanes, but it may not cover a high-risk area like along the coast for wind damage. As a result, you would need windstorm insurance if your home is in a coastal ...