Understanding Homeowners Insurance

Your mortgage lender will require that you have Homeowners Insurance on the property that is effective the date of settlement.  The lender calls the insurance Hazard Insurance, but everybody else calls it homeowners insurance.  If you have questions about the correct insurance policy or need to get a recommendation to a great insurance agent please give us a call at 302-703-0727.  If you would like to get pre-approved for a mortgage APPLY ONLINE.

Homeowners insurance is designed to repair or replace your home in the event it is damaged or destroyed.  Homeowners insurance also protects the valuables within your home in the event they are stolen or destroyed; this is termed personal property coverage on the policy.  Your homeowners insurance policy also provides you with personal liability insurance.  This protects you in case you are named as a defendant in a civil lawsuit.  It will not cover the cost of a criminal trial or any penalty set forth in a criminal trial. Keep Reading...