Homeowner Insurance
As part of a standard homeowners insurance policy, you should have the minimum level of hazard insurance. Once you are about to finally sign your loan documents, the lender will require that you have hazard insurance in place. Hazard insurance will cover damage or destruction by wind, hail, vandalism, theft, fire, smoke, or other unfortunate occurrences. In addition, hazard insurance will protect your personal effects and furniture and any additions such as a pool , hot tubs. In case you own valuable possessions such as jewelry, art, business equipment, you may need to pay for additional or supplemental insurance to cover those items
Hazard insurance also has a liability portion which takes care of people in case of accidents on your property. These medical bills will be paid by your insurer. This is something you will want to have just like your auto insurance policy, it is good to have as we all know very well how much medical bills can become.
Be sure to shop around for homeowners insurance and ask questions about the proposed policy, deductibles and so forth. If you happen to reside in states like California, Florida, Texas among other with annual natural disasters you may find it difficult to secure a good policy or even worse attain one if you filed a claim in the last three years.