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Key takeaways. States do not legally require homeowners to have home insurance, but it is usually required by your lender if you currently have a mortgage on your home.
Carrying home insurance is not required by law, but if you have a mortgage, your lender will typically require you to have enough insurance to cover the loan amount or the cost of rebuilding your ...
Renters insurance is not required by law, but it may be required by your landlord, and it’s usually very cheap compared to the cost of replacing your belongings out of pocket. 7.
The cost of homeowner's insurance often depends on what it would cost to replace the house and which additional endorsements or riders are attached to the policy. The insurance policy is a legal contract between the insurance carrier (insurance company) and the named insured(s). It is a contract of indemnity and will put the insured back to the ...
A guide to help you understand homeowners insurance policies and coverage types. ... additional living expenses and perhaps even legal fees if a guest is hurt in your home. ... (if required ...
In many cases, a home inspection is required in order to obtain a homeowners insurance policy. Insurance carriers need to understand the level of risk they are taking on by insuring your home in ...
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