Homeowners Insurance for First-Time Buyers_ What to Line Up Before Closing.

Buying your first home? Your lender will want proof of homeowners insurance before closing. This video walks through what to line up ahead of time: the insurance binder your lender asks for, how escrow and the mortgagee clause work, why your dwelling limit should be based on rebuild cost rather than purchase price, how flat and percentage (wind/hail) deductibles work, and add-ons worth asking about such as water backup and an umbrella policy once you have equity. Coverage, availability, and rates vary by carrier and state, so start shopping early and review the policy before you sign.