Home Insurance World - Tools for Homeowners

If you are a new or soon-to-be homeowner and you have questions about insuring your home, you have come to the right place. As a service of the Home Buying Institute, this educational website provides the information and resources you need to make smart decisions about your homeowner insurance policy.

What kind of insurance do you need? How do you request a quote? Can you save money in the process without sacrificing insurance coverage? Throughout this website, we have provided answers to these home insurance questions and more.

Insurance Requirements for Home Buyers

When you buy a home, your mortgage lender will most likely require that you have home insurance prior to your closing / settlement day. In fact, most lenders want to see proof of payment for a full year of the home insurance policy. This only makes sense, because the lender has a large financial stake in the home you are buying.

But what if you are buying the home in full, without the need of a mortgage payment? Do you still need homeowners insurance on the property? The answer is a resounding yes. You should always have insurance on a home you own. In fact, we can think of no situation where it makes sense to pass up insurance.