HOME OWNER'S INSURANCE.

What's this? HOME OWNER'S INSURANCE is required by your bank when you purchase a house. It's seems like a basic thing but some people are not aware that you need to purchase it.

Where do I get it?
Most people choose to buy their insurance plan through the same company that currently carries their car insurance. They usually offer a discount for multiple policies so this is your best bet.

Have a backup plan.
Here's another important reason to carry a homeowner's policy. You'll be covered for additional living expenses in case you're temporarily displaced because of damage from a fire or other insured disaster like flood (usually a seperate rider, a "flood rider").

Protect your home business.
If you work from home, you can add an insurance rider for home-based business coverage. It protects home office equipment, and offers general liability coverage against injuiries to clients and employees.

Insure your condo.
When buying a condo you'll actually need 2 insurance policies: one to cover liability, your belongings, and structural improvements; plus a master policy provided by the condo which covers the common areas that you share with others in the building. All condos are maintained by an association and most of them offer insurance as part of the monthly assocation dues so you may only need to get one for you personal items.

Keep up with your property values.
You can purchase an inflation insurance rider, which increases coverage as the home's value rises. You can also get insurance equal to the full replacement value of the home.

Whatever you do, the old saying is true, "Better safe, than sorry."