Plano Home Owners Insurance
It is a good idea, and required by your lender, to carry at least a basic homeowner’s insurance policy on your Plano home. A basic policy protects the owner against property damage that may result from lighting, fire, wind or hail. It will also cover cost for motel and food if you are forced out of your home while such damages are repaired.A basic home owner’s insurance policy will also cover against loss from vandalism or theft and will usually allow for reimbursement for personal property destroyed in many natural disasters. One of the most important parts of a home owner’s policy is that it will provide for liability coverage for lawsuits brought against the owner by others who were injured on the property. This coverage includes the cost of legal defense up to the pre-set policy limit. Most policies will have a provision that will cover the basic medical expenses for the parties as well.Homeowners insurance is always required by mortgage companies with the purchase of a home. It is required because the mortgage companies’ investment is almost as big for them as it is for the Plano real estate owner. They need to make sure the property is protected from major damage so that if they become the owner of the property through an unfortunate Plano foreclosure the property will be of sufficient value that they can re-sell the property through an aggressive Plano Realtor and re-coupe their money. Even if you own your home outright, a good insurance policy is still the best way to protect the value of your home.
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