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Home Insurance Requirements, Costs for Mortgage Borrowers in 2015

Home Insurance Requirements, Costs for Mortgage Borrowers in 2015

Home Insurance Requirements, Costs for Mortgage Borrowers in 2015
News from Home Buying Institute:

By Brandon Cornett | 12/04/2014 | © 2014, all rights reserved | Duplication prohibited

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Home loans and homeowners insurance go hand in hand. When you take out a loan to cover the cost of a house purchase, the lender will require you to have the property insured with a homeowners insurance policy. It’s a minimum requirement for most mortgage loans these days. Here is an updated look at home insurance requirements for mortgage borrowers in 2015, along with the average cost of coverage.

Definition: Homeowners insurance, also referred to as “hazard insurance,” is a type of coverage that protects a home and the contents within it. Most of these policies consist of a package of individual coverage types. They can insure financial losses resulting from damage to the property itself, personal injuries, loss of personal property within the home, and more.

Average Cost of Home Insurance in 2015

The average cost of a homeowners insurance policy in 2015…………… continues on Home Buying Institute

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