Home Owner's Insurance
Protecting your new home with insurance is a must. How well you do that depends on the details of your policy. And while you are not required by law to have homeowners’ insurance, mortgage lenders require that you do.
Your CENTURY 21 Affiliates professional can help you find an Insurance Broker for the right homeowners’ insurance for you.
A standard policy will suffice in most instances. It protects against several natural disasters and catastrophic events. However, it will not guard against floods, war and nuclear accidents. The policy can be expanded to include these disasters as well as coverage for such things as workers’ compensation. In fact, the lender may require that you purchase flood insurance if the house is in a flood zone.
You can also cover the depreciated value of personal property, such as televisions and furniture, by purchasing a replacement-cost endorsement. This is an extension of coverage that can enable you to replace the item with one of comparable material and quality.