Normal
0
false
false
false
EN-US
X-NONE
X-NONE
MicrosoftInternetExplorer4
/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Table Normal";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-qformat:yes;
mso-style-parent:"";
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin:0in;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:10.0pt;
font-family:"Times New Roman","serif";}
Your home is a major investment
so it should be insured. There are few types of insurance. How much insurance
and what types of insurance you have will depend on a number of factors; the
location of the home, home value, home construction, applicable laws,
deductibles, costs, and etc.
Five basic types of home insurance:
1)
Homeowners: This is the basic coverage that includes
loss or damage from hazards plus added available coverage for personal property
and liability, jewelry, theft away from home and other such items. Homeowners
insurance might also include hail and wind coverage, but in some areas a
separate policy will be required.
2)
Flood: This indemnifies against loss by flood
damage. The insurance is purchased through private companies
3)
Wind and Hail: In some locations damage from wind and
hail is not covered in the basic Homeowners insurance, but insurers offer a
separate policy for this coverage.
4)
Earthquake: This insurance is fairly inexpensive and
should be considered if the property is in an area where earthquakes are a
possibility.
5)
Private Mortgage Insurance: This is insurance coverage
for non payment of mortgages and foreclosure. Lenders require PMI when the
mortgage amount is more than 80% of the home value.
When
making decisions about insurance I would suggest consulting with a the real buyers agent, who is well-known about the area and the several insurance companies and
policies available.