Why is it mandatory in California when you finance a house to get insurance?, by Success Money.

By Success Money

Why is it mandatory in California when you finance a house to get insurance?

It’s a world of uncertainties and inevitabilities. Accidents and natural calamities are inevitable and are likely to occur anytime. Southern

California citizens are aware of common disasters that strike in homes and to avoid the risks of great financial losses, getting insurance is what they consider the best option. The good with home insurance is that not only does it cover the house but also personal belongings, liability risks, and the people living in that house. It especially is mandatory that, if a buyer has financed their home with a mortgage then they should have home insurance. A homeowner should purchase the insurance immediately after they take possession of the house.

WHY IS HOME INSURANCE IMPORTANT?

With home insurance, a homeowner does not have to carry the financial burden that comes along with disasters and this prevents them from financial distress. By homeowners paying a premium to an insurance company, there is an assurance of having a partner in disaster in now and in the future. For most people, a home is one of the most valuable assets they own. It is, therefore, a wise decision to protect such an investment. This is only possible if they have home insurance. The average cost for homeowners policy is1, 014 per year for a 250, 000 in dwelling coverage according to, 2021 Bank rate’s study of the annual premium. The rates vary depending on the home size, credit scores, and zip code. With the numerous insurance companies in California, individuals can choose their best preference depending on the amount of coverage an individual wants, their insurance budget, and the type of insurance they require. However, there are the basic homeowners’ insurance policies a standard Southern California home insurance should have.

There is so much peace of mind that comes with knowing that you are protected. This is no different for an insured homeowner, who is sure that someone else has taken the risk of bearing their losses in case of a disaster in the future. What else could be better? Enjoy your everyday stay at your

home knowing very well that your family and home investment are under another protective roof. Wondering which is the ideal insurance for your home? Do you need the best home insurance advice? Have your questions answered today by getting in touch with The Power Is Now Media Inc. VIP agent based in Southern California, Success Money. You can also contact the CEO Eric Lawrence Frazier MBA DRE 01143484.

ABOUT SUCCESS MONEY

Success Money is a creative and passionate entrepreneur. She started her career in the mortgage and real estate industry in 2005 while studying Business Administration and communication in college. She has assisted in establishing and serving on numerous boards throughout her career including; The Black Chamber of Commerce, National Association of Real Estate Brokers (NAREB) at the city, state, and national level. She is the founder of House of Success, a non-profit organization established to assist entrepreneurs, artists, and creative with building and expanding their business, brand, product, and services. CEO of Success Money Management Inc. and Super Agents Worldwide, Success and her associates provide professional consulting and coaching in business, credit, funding real estate taxes, and advertising.

ABOUT THE POWER IS NOW INC.

Power Is Now Inc. is an advocate for the empowerment of minority communities all around the United States. We engage in various thought leaders to make sure that you are equipped with knowledge about our economy. We have partnered with First Bank to provide you with products and services that will help you prepare better for the future. We are also advocating for first-time home buyers. The Power Is Now Media Inc. can help you make your home ownership dream a reality. Go to www.neverrentagain.com and get started today. Eric Lawrence Frazier MBA DRE, Vice President and Mortgage Advisor of First Bank, NMLS 461807. President and CEO of The Power Is Now Media Inc. www.thepowerisnow.com

References

https://www.investopedia.com/articles/insurance/09/property-insurance.asp https://www.thehartford.com/aarp/homeowners-insurance/california https://www.bankrate.com/insurance/homeowners-insurance/in-california/