Author & Copyright: National Association of Insurance Commissioners (NAIC)
Why You Need Insurance
“Homeowners insurance is an important purchase for many people. There are two major reasons to buy homeowners insurance:
• To protect your assets
Homeowners insurance covers the structure of your home and your personal property, as well as your personal legal responsibility (or liability) for injuries to others or their property while they’re on your property.
• To satisfy your mortgage lender
Most mortgage lenders require you to have insurance as long as you have a mortgage and to list them as the mortgagee on the policy. If you let your insurance lapse, your mortgage lender will likely have your home insured.
homeowners insurance again …”