Homeowner’s Insurance is just a fact of life. Portland Real Estate specialist Dawn Belisle brings you the facts on buying your protection plan.
Insuring your Home and Property
Homeowner’s insurance is almost always required by mortgage companies. It protects you from a variety of potentially costly problems, like fire damage or vandalism. If you’re forced to stay at a hotel during repairs from these damages your expenses will be covered as well. It also provides liability coverage for lawsuits that result from someone getting hurt on your property. Even if it weren’t required it’s a valuable thing to have. Typically, if you want protection from floods or earthquakes you will need a separate policy.
The rate you get on your insurance will be affected by your credit score. A higher score will get you a lower rate as you’ll be considered more reliable and less likely to file a claim. If you’re thinking about buying a home it’s never too early to start building your credit.
