lender holds a lien on the property until the mortgage has been paid off. To safeguard their interest, lenders want financial protection in the form of a home insurance policy to pay for the cost of rebuilding your home, should disaster occur. A standard homeowner’s insurance policy generally protects against: • Fire and lightning • Damage from hail and windstorms • Theft and vandalism • Smoke damage • Falling objects, like tree branches • Damage from the weight of ice, snow, or sleet • Frozen plumbing, heating, AC, or other household systems • Vehicles (and even aircraft) — not the vehicle itself, which is the object of auto insurance, but damage from vehicles — e.g., in 78
Powered by FlippingBook