Homeowners & Renters

Is homeowners insurance required? How about renters insurance?

Unless your property(ies)/house(s) is paid in full, your lender will require you to get homeowners insurance for both property & liability. This works similar to renters insurance where your land lord will require you to obtain it before moving into the property you've rented. To find out why, go to insurance basic and learn more.

Below are the coverage you need for homeowners insurance:

Property Section
  • Dwelling - covers main structure & fixtures
  • Other structure - covers other structures other than dwelling such as storage shed, detached garage, etc.
  • Personal property - covers personal properties such as furniture, electronics, etc.
Liability Section
  • Loss of use - covers temporary housing expenses due to repair/reconstruction of the property
  • Personal liability - covers damages out of negligence or carelessness to a person and/or a property
  • Medical payment - covers medical payments for an injury to a third party within the property regardless of negligence or carelessness

Below are the coverage you need for renters insurance:

 Property Section
  • Personal property - covers personal properties such as furniture, electronics, etc.
Liability Section
  • Loss of use - covers temporary housing expenses due to repair/reconstruction of the property
  • Medical payment - covers medical payments for an injury to a third party within the property regardless of negligence or carelessness

Want to find out how much it costs to get you covered today? Click below and get a quote today