Home insurance is a must for anyone that has a mortgage on their home. It requires those that have a mortgage to have this coverage and provide proof of having it. If you own your home outright, this coverage is not mandatory, but they recommend it. This helps to cover you and your home in case of an incident that might happen inside the residence.

When you go to purchase a new home, before closing, they will require you to purchase home insurance. The mortgage company you work with will not close on the home until you can provide proof of homeowners insurance for at least a year on the property. The lender will also need to see that they are the lien holder on the policy. This protects the home they are paying for in case something were to happen to it.

Home Insurance Coverage Before Closing

It is best to get the right amount of coverage, and some mortgages may require you to cover a specific amount of what the home is worth. If this is the case, it is important to speak with the company to find out exactly how much you should get in your home.

You should, at the very least, have enough to build a new home from the ground up should a disaster occur. There are other factors someone should consider such as whether the home is in a flood zone, tornado alley, by a hurricane region or other areas that might cause more damage to the home should something happen. They cover these extra disaster zones with more coverage they can add to the home insurance amount.

You also get coverage on yourself, those living within the home, the property within the home, the extras that come with it and so much more. You’re not having to worry about the coverage that comes with the home or something happening within the home you will be unable to pay for. The coverage will cover anything, big or small, that might cause harm to the home, inside or out, and those living in the home and the items inside it, as well.

You have the choice to pay for the premium of the insurance up front before closing as payments taken out of your account or set up as an escrow account with your mortgage payment and taxes are taken out. Either way is fine, depending on your preference and which you find the easiest to go with.

Always Choose Reliable Home Insurance

Reliable insurance is a must. You don’t want to use an insurance company that cannot provide adequate coverage and reliable services. If it comes time to close and you need insurance put on your new home, give Absolute Choice Insurance a call. Our professionals can get you the best quote in a short time, so you’re covered. The home buying process doesn’t have to be slowed down due to lack of insurance, allow our professionals to provide you with the coverage you can count on.

Phone: 407-344-4444
Website: www.absolutechoiceinsurance.com