What you should know about Homeowners Insurance

Filed under For Buyers

‥ Homeowners insurance is not only required to obtain a mortgage, it also makes sound financial sense to cover homeowners’ valuable assets. It is important that homeowners take the time to read through their homeowners
insurance policy to understand what is covered and what, if any, coverage needs to be added.

‥ Standard homeowners insurance, known as HO-3, protects the property against damages and provides personal liability coverage. Certain natural disasters are not covered under a standard policy. A typical homeowners insurance
policy covers the home and personal property against damage from fire, lightning, tornadoes, and hurricanes. HO-3 insurance covers losses due to theft, riot, and vandalism, as well as damage due to frozen plumbing, heating, and air
conditioning systems.

Article from California Association of Realtors

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