Doesnt it make sense to have homeowners insurance instead of fire insurance only?
If you get homeowners insurance that should cover many things. Whereas fire insurance only covers that one thing.
Most banks REQUIRE homeowners insurance specifically because it covers EVERYTHING….
So yes— it makes PERFECT sense..
Actually, you should have a policy that covers everything including flooding if not you are taking a risk.
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Yes, it does. That’s why many insurance companies have expanded their coverages further than just fire insurance over the years. Many homeowners policies provide limited water damage coverage, theft, vandalism, wind, hail, etc. If and when you are shopping for insurance on your home, you should know that most insurance companies cover the same types of damage and losses. Many of them don’t cover losses that occur over a period of time such as settling or cracking of the foundation. Someone also mentioned getting a policy that covers everything including flood. First of all, flood insurance is only sold through the Federal Government. Second, you will not find any kind of insurance policy that will provide coverage for everything that could possibly go wrong with your home. Make sure you maintain your home, and most importantly, read and understand your policy once you decide on a company to purchase a policy with.
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Insurance adjuster: 4 years.
Most banks REQUIRE homeowners insurance specifically because it covers EVERYTHING….
So yes— it makes PERFECT sense..
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