You should have home insurance in place at the time you close on the loan or the closing of the home. Once your name is on the deed you are responsible for everything that happens to that property. For example if you have a $100,000 loan for the property and it burns to the ground you would be liable for the loan even if you had no insurance. If someone comes to your home and falls down the stairs and has a $2000 emergency room claim, you are responsible.
You should contact a broker like myself and get some quotes and coverage. Please visit http://rocoinsurance.com/services.html
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You should contact a broker like myself and get some quotes and coverage. Please visit http://rocoinsurance.com/services.html