RISK - Home Insurance provides payment to the homeowner in the event of a loss. A loss may be due to damage from fire, theft or natural disasters. Any damage to the property will have an effect on the fair market value of the property, if not repaired. If you finance your home purchase, your lender will generally require you to have home insurance coverage in place. At closing, proof of home insurance required is provided to your Lawyer or Notary. Inadequate insurance or lack of insurance will delay your completion.
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