Why Most Lenders Require You To Have Putnam Connecticut Homeowners Insurance

If you have been looking at home loans, you probably have learned that most lenders require that you get Putnam Connecticut homeowners insurance before they will lend you the money to buy the home. That’s because they are loaning you such a large amount of money that they want to make sure their investment is protected.

If you are buying a home and financing through a lender, you will need at least a basic homeowners insurance policy. Insurance is not a bad thing to have. Your policy can cover you in the event of a fire, hurricane, burglary or vandalism at your home. There are some exclusions when it comes to Putnam Connecticut homeowners insurance. For example, your policy will not usually cover damage caused by earthquakes or floods. These are sometimes separate policies you can buy if you are concerned about these types of disasters happening where you live.

Some people choose not to have homeowners insurance if they are not required by the lender or law to have it. While this is their choice, it is not always the best one. Your home is an extremely large asset and if you lose it, you will have no insurance to help you rebuild or find a new home. That’s why it’s important to consider Putnam Connecticut homeowners insurance when you buy a home.

To get homeowners insurance click here. The Byrnes Agency will help you find the right type of insurance for your home.

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