What is Homeowners Insurance
Homeowners insurance – which you’ll have to buy if you’re taking out a mortgage loan to purchase a home for sale in Ellicott City – is coverage for your house in the event of loss or damage. Some homeowners insurance policies cover the things inside your home, too.
Here’s what you need to know about homeowners insurance before you buy.

What is Homeowners Insurance?

Like car insurance, homeowners insurance protects your home in the event of a disaster or catastrophe. When something damages your home’s structure or your ability to live in it, your insurance policy is designed to kick in and pay for repairs or replacement.
No two policies are exactly the same, though, so you’ll need to get several quotes from different companies to find out what’s best for you. Some policies cover very little, while others cover a lot – and you have to read the fine print.

What About Floods?

Flood insurance is typically a totally separate policy than your homeowners insurance policy. If you live in a flood zone, you’ll most likely be required to purchase it – but you might want to buy it even if you don’t, because floods can happen anywhere at any time.

What Does Homeowners Insurance Cover?

Usually, homeowners insurance covers things like:

  • Property damage
  • Personal property loss
  • Personal liability
  • Loss of use

Again, though, every policy is different. You’ll have to talk to your insurance agent about what’s right for you.

Are You Buying a Home in Ellicott City?

If you’re ready to buy a home for sale in Ellicott City, we can help you find the right one.
Call us at 410-465-5822 to tell us what you want from your next home or to schedule a tour in a home you’ve seen online.
Use these links to check out the hottest listings: