Insurance Requirement

Insurance Requirement

A paid homeowner’s insurance policy (or a paid receipt for one) is required at closing, so arrangements will have to be made prior to that day. Plus, involving the insurance agent early in the home buying process can save you money. Insurance agents are a great...
Insurance Requirement

Flood Plain

If you live in a flood plain, the lender will require that you have flood insurance before lending any money to you. But if you live near a flood plain, you may choose whether or not to get flood insurance coverage for your home. Work with an insurance agent to...
Insurance Requirement

Private Mortgage Insurance

Private Mortgage Insurance or Insurer(PMI). These are privately-owned companies that provide mortgage insurance. They offer both standard and special affordable programs for borrowers. These companies provide guidelines to lenders that detail the types of loans they...
Insurance Requirement

Contractor Insurance

Be sure your contractor has the required personal liability, property damage and worker’s compensation insurance for his/her workers and subcontractors. Check with your insurance company to find out if you are covered for any injury or damage that might...
Insurance Requirement

Insurance Savings

Homeowners’ insurance policies typically insure the contents of the home for a percentage of the structure’s replacement cost. But chances are your furnishings and other “stuff” haven’t increased in value as rapidly as your home has...