Homeowners insurance financially protects you if something bad happens to your home. It also covers your personal belongings, the cost of hotel stays if your home is too damaged to reside in, and legal expenses if you’re sued because of an accident.

Although not required by law like auto insurance is, most mortgage lenders will require that you keep the home insured throughout the duration of your mortgage term.

Source: https://www.policygenius.com/homeowners-insurance/

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