What are homeowners insurance and what do they cover?

homeowners insurance

If you already own a home or if you are in the process of acquiring a new home this information interests you. Because not only the debts of a mortgage loan. The delinquency of a loan or the seizure of your property can turn into a pain head. Just as you are constantly exposed to risks on the street or at work. Your real estate can also suffer an emergency at the least unexpected moment. Such as a broken pipe theft loss of rental income or flood can be made in front of a policy or insurance that we are going to mention here.

homeowners insurance

If you have already done paperwork to acquire a mortgage loan you must know some of the insurance as they are obligatory to acquire as loan guarantee. The problem is that people are not aware of how useful these insurance are to protect their assets and as soon as they finish paying their loan, they do not continue with the insurance to mitigate future risks.

What they do not know is that the insurance protects the economic stability that a family must face in the face of a loss. The best way to know why it is important to have insurance is to ask what would happen in the event of housing damage or if one of the debtors of a mortgage loan should die.

Life insurance: If for any reason or circumstance you as debtor die, or suffer a total and permanent disability. The insurance covers the balance of the debt you have at the time of the loss. However, it is important to keep in mind that the value of the insurance depends on the age of the insured person. The amount insured so the higher the age and the protected amount. The more expensive the insurance will be.

Fire and earthquake insurance: this insurance covers the losses and material damages that the property suffers accidentally, sudden and unexpected as a direct consequence of the risks covered. Home insurance: this is one of the most versatile products offered by the insurance industry to protect the home and its contents against a wide variety of risks. You can get from the basic coverage’s, such as fire and earthquake, to cover civil liability, for damages that the pet can generate to third parties and cover theft of electronic devices, through assistance services such as locksmith, electricity, plumbing, among others.

 

 

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