Insurance FAQs for First-Time Home Buyers

You’ve just made a huge investment. Make sure you protect it.

By Shannon Ireland

Buying home insurance for the first time is overwhelming, especially if you’re trying to go it alone.

Before shopping for coverage, review these common insurance questions to make sure you’re armed with the knowledge to find the best policy for your needs.

Do I need a policy before buying a home?

Technically, no.

Most states require drivers to possess auto insurance before taking the car off the dealer’s lot. But home insurance is different. You can legally own a home sans insurance.

However, if you need a loan to buy your home, your lender will likely require you to purchase home insurance as a way to protect its investment.

 

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