Insurance 101: Homeowner’s, Mortgage and Mortgage Life Insurance Explained
Posted by Terry Paranych on
Homeowner’s insurance, mortgage insurance and mortgage life insurance all play an important role in homeownership. But they’re also all very different in the benefits they provide. Read on to learn more about these types of insurances and how they help you as a homeowner.
Homeowner’s Insurance
What is homeowner’s insurance?
Just as car insurance covers damages to your vehicle, homeowner’s insurance covers damages to your home. Also, like car insurance, you can opt to pay insurance premiums monthly or annually, depending on your unique situation (this amounts to approximately $1,200 a year, according to a recent study).
How does it help?
Although homeowner’s insurance isn’t mandatory, it is highly recommended as it will cover the…
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