What it may cover
A homeowners policy may cover the dwelling, other structures, belongings, loss of use, and personal liability, subject to the policy's limits, deductibles, exclusions, and endorsements.
Closing and Property
Homeowners insurance is not optional for a financed home
A Loan Estimate may label the specific provider as something you can shop for, but a mortgage lender generally requires acceptable property insurance. The policy protects your home and belongings. The lender's interest is protected too.
Lender coverage is different
Lender-placed insurance primarily protects the lender's interest and may offer little or no protection for your belongings or liability. It can also be expensive.
Florida needs extra attention
Wind, hurricane, flood, roof, and deductible rules deserve a careful review. Standard homeowners insurance generally does not include flood coverage.
Shop early
Insurance cost and availability can affect the mortgage payment and property eligibility. Get quotes before the financing and inspection deadlines whenever possible.
Written by Marta Lillard
25+ years of mortgage experience, explained in plain English.
Mortgage Broker · First Coast Mortgage Funding · NMLS #879436 · Licensed in Florida and Georgia
Questions about your options?