Insurance Referral Service
Why You Need Homeowners Insurance
There are two major reasons to buy homeowners insurance:
•To protect your assets.
◦Homeowners insurance covers the structure of your home and your personal property.
◦Homeowners insurance protects you if you are legally responsible for damage to another person’s property or for injuries to another person.
•To satisfy your home mortgage lender.
◦Most home mortgage lenders require you to have home insurance as long as you have a home mortgage and to list them as the mortgagee on the policy. If you let your home insurance lapse, your home mortgage lender will likely obtain its own insurance. You may be required to pay for this insurance until you get your own homeowners policy again, and the cost could be added to your loan. Such coverage is often quite costly, generally is limited to damage to the structure of your home, and protects only the lender.
Recommended Maine Home Insurance Providers
When you work with a CENTURY 21 Baribeau Agent, he or she can recommend several local home insurance companies who would be pleased to provide you with a quote. Contact CENTURY 21 Baribeau Agency or call 800.882.5681 for more information.
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