Do I need to have home insurance in California?

The Newport Beach, CA area is a beautiful part of the country and also a great place to buy a home. If you are going to purchase a home in this part of the country, you will want to make sure that you are properly protecting it with home insurance. There are several reasons why you will need to have home insurance in California. 

Required by Lender 

One reason why you need to have home insurance is that it could be required by your home lender. If you have a mortgage, there is a good chance that your lender is going to require that you carry home insurance at all times. To ensure that your property continues to be properly covered at all times, many lenders will also require that you escrow your home insurance payments each month with your mortgage payment.

Association Rules

Many people in the Newport Beach area are also subject to a variety of home association agreements. These agreements often require that you have home insurance and provide evidence of it each year. The associations want you to have insurance as it will ensure you have liability coverage if you or your property causes damage to another and that you can rebuild your home if it is damaged by a fire or bad weather. 

If you are going to buy a home in Newport Beach, CA, you need to have good home insurance in place at all times. One company that can help you to do this is Murvay Insurance. When you work with the team at Murvay Insurance, you can learn a lot more about all of the home insurance options that you have. This will help you to choose the right policy for your situation and needs.