Are You Properly Insured?

To “close” the deal when you're buying a home, your lender will require you to obtain homeowners insurance on the property--enough to cover the loss in case of severe damage.

Discuss your needs with your insurance agent before you buy. Consider these points:

* Because you must purchase enough insurance to cover the loss of your home in a natural disaster, make sure you have your home’s value updated periodically.
* If you have a home office with others working for you, ask about a rider to cover injuries to those employees.
* Expensive jewelry, artwork, or antique furniture may require a special rider to cover their replacement cost. Have them appraised and photographed to document their value.

Protecting your real estate investment is an important responsibility of home ownership.