Home Insurance

It's always a good idea to have insurance on your home. Most homeowners don't have a choice since their mortgage lender will require that they maintain a homeowner's policy. However, if you do have a choice, we highly recommend that you still have it. The cost is minimal compared to other expenses, and begins at just a few hundred dollars a year.

What Insurance Policies Cover

An insurance policy will indemnify you for losses, or guarantee to cover your losses, covered under the policy.

A homeowner's policy should cover:

• losses to real property due to fire, lightning, vandalism, windstorms, freezing, and more personal items damaged or destroyed in the home by theft, burglary or other covered risks
• personal items lost or stolen outside the home, such as items stolen from your car
• personal liability coverage for bodily injury in case a person is injured on the property
  

Insurance policies differ depending on the type of home you purchase, and on the type of coverage you desire.

If you're buying a condo, read more about condominium unit insurance.
To better understand insurance coverage, read about the value of your home.

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