Homeowners insurance covers physical loss and liability suits. You can add on separate endorsements for scheduled property, campers, recreational vehicles and etc.
Mortgage insurance is insurance purchased in the event you default on your mortgage. Think about it in these terms: when you get a mortgage the bank wants to be added as a loss payee in the vent the house (its collateral) is destroyed. It also wants protection in the event you lose your job or decide to stop paying. Sometimes bank purchase this coverage, but in other circumstances first time borrowers with bad credit and a low down payment may be required to purchase mortgage insurance.
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Homeowners insurance covers physical loss and liability suits. You can add on separate endorsements for scheduled property, campers, recreational vehicles and etc.
Mortgage insurance is insurance purchased in the event you default on your mortgage. Think about it in these terms: when you get a mortgage the bank wants to be added as a loss payee in the vent the house (its collateral) is destroyed. It also wants protection in the event you lose your job or decide to stop paying. Sometimes bank purchase this coverage, but in other circumstances first time borrowers with bad credit and a low down payment may be required to purchase mortgage insurance.
I hope this helps.