Why is home insurance required for some people in California?

Those that are in the Pomona, CA area and are looking for a new housing option should always consider owning their home and buying a property. As you are looking for a new property to buy here, you should also look into your insurance needs. Home insurance is always a good investment and is also a requirement in some situations. This coverage could be a requirement for a few reasons. 

Insurance is Required by Mortgage Lenders

A reason that many in this part of California will need to have home insurance is that it is often required by mortgage lenders. Taking out a mortgage is a common way to pay for a home. If you are going to finance your purchase with a mortgage, your lender will have insurance rules that need to be met. They may even require that you have your payments escrowed each month. 

Insurance Could be an Association Requirement

You may also need to get a home insurance plan if it is an association requirement. A lot of home associations in this part of California will have specific insurance requirements that residents need to have. They are likely to require you to provide evidence of coverage at least once per year. 

Having home insurance should be considered a top priority for anyone in the Pomona, CA area. If you would like to purchase a home in this area of the state and need insurance, the team with THINK Insurance & Financial Services can help you choose a plan. THINK Insurance & Financial Services will be able to give the support needed to build an insurance plan that will meet your needs. This will include helping you properly assess all of your options and create a policy that mitigates your risks.