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 fr om v ehicles—e.g., in the event a car runs into your home. • Riots or civil commotions • Explosions • Earthquake • Strata deductibles for strata properties 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 becomes temporarily unlivable.
GETTING AN APPRAISAL DIFFERS FR IFFERS FROM THE EVALUATION BY A PROPERTY INSPECTOR
A real estate appraiser is a licensed expert who determines the value of a certain property. When it comes to closing a financial transaction involving a property, both the seller and the buyer depend on his or her evaluation. This procedure is meant to protect the buyer—as well as the bank that offers the mortgage loan—from purchasing an overestimated and overpriced piece of real estate. Property appraisers aren’t the same as property inspectors. The difference 70
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