Lenders will require that you insure your home. Home Insurance Policies cover the costs to fix any damages that can occur to your home. The price of this insurance is dependent on a home’s age, location, and value, as well as the insurance company you choose. Be sure to call around and get several quotes or ask me for a list of local vendor references, I’ll be happy to help you get started.
Insurance agents will oftentimes be available to take your information over the phone and get back to you the same day with an estimate. Once you choose a company to insure your new home, the cost of that policy is normally added to your closing costs and sent into an escrow account to be paid to the insurance company directly with your monthly payment.