Coverage In Place. In Most Cases, You’ll Be Asked To Provide Proof That You’ve Prepaid One Year’s Worth Of Coverage Before The Lender Will Set Closing. The 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 The Event A Car Runs Into Your Home. Riots Or Civil Commotions Explosions Homeowner’s Insurance Policies Also Generally Include Coverage For Liability, Personal Belongings, Other Structures On Your Property Like Carports And Fences, And Additional Living Expenses If Your Home
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