01/16/2025
A home insurance policy provides valuable protection for your finances if your property and personal belongings are damaged or destroyed due to a covered loss like a fire, severe storm or break-in. As of 2023, data show that 88 percent of homeowners have an active home insurance policy.
Unlike auto insurance, home insurance is not required by law. However, many mortgage lenders require customers to obtain coverage. The cost of home insurance is dependent on a variety of personal factors like your location, the cost to rebuild your home and your claims history. Getting quotes from multiple home insurance providers can help you find the cheapest policy for your situation.
