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Why should I buy home insurance?

Answer

To protect yourself from the loss of your home or damage of the property. An Insurance Policy won't cover all the costs of damages or lawsuits concerning injuries sustained on your property, but will pay out a hefty chunk of costs which could bankrupt you or cause you to lose the use of your home.

More Homeownership FAQs from Low Income Households

  • How can homeownership benefit me?
  • How can homeownership benefit me?
  • How to buy a home with bad credit?
  • Are there HUD homeownership programs?
  • How does homeonwership affect your credit score?