When Must Prospective Homeowners Purchase Home Insurance?

When you buy a home, it will represent your hopes and dreams for the future. Homeowners in the Longwood, FL area can learn about their home insurance options at our office. Our experienced team at Express Insurance will help you decide on a home insurance policy that will meet your needs and fit your budget. We’ve been providing service for Florida homeowners like you since 2007.

When Must Prospective Homeowners Purchase Home Insurance?

According to the Bray Law Offices, the state of Florida doesn’t mandate the purchase of home insurance. However, most mortgage brokers will require you to buy home insurance before they agree to provide you with home financing. If you decline to buy home insurance despite the mortgage broker’s request, the lender has the right to buy home insurance on your behalf. This type of transaction will result in the purchase of a “forced-place policy,” and, if this occurs, the buyer will be required to pay the policy premiums for that policy.  

Despite its lack of legal mandate for home insurance, Florida has issued clear directives on which types of home insurance coverage should, ideally, be purchased. According to Wawanesa, when you buy home insurance, the policy must be purchased within three days of the closing. The same website further recommends you get your home insurance at the same time you sign your home contract.

Call Us for Your Appointment Today 

No one can predict when a disaster might strike and cause damage to your home. Our team at Express Insurance can help you find a policy that will help you to be as prepared as possible for future disasters. Homeowners near Longwood, FL have realized they can rely on our team for excellent customer service. Call us today for your appointment to discuss home insurance.