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5 Types of Real Estate Insurance

Once you buy or rent a home, the next thing on your to-do list should be to set up insurance. Not only does this protect your home in an emergency, it can also make sure that your valuables can be replaced and even cover temporary lodging for you if your home is uninhabitable due to fire, flood, or another emergency. Here are common types of real estate insurance that you can consider.

Types of Real Estate Insurance

5 Common Types of Real Estate Insurance

Homeowner’s Insurance

If you own your home, this insurance is a must-have. It covers the structure as well as the things inside your home. If you have a mortgage, most lenders require that you carry a minimum amount of homeowner’s insurance.

Renter’s Insurance

For renters, you don’t need to worry about the structure. But you should still have insurance to cover your belongings inside. Many landlords require that you have renter’s insurance and will need to have proof of your policy on file.

Landlord’s Insurance

If you rent out a home, you need insurance to cover damage to the structure. These policies often include liability in case someone is injured on the property as well. This is a must-have if you rent out a property.

Umbrella Policy

This coverage is meant to provide umbrella-like coverage for all of your needs. It may not be necessary but if you own a lot of real estate, it can be a good thing to look into for added protection.

Flood Insurance

Did you know that flooding is not covered by most insurance policies? Flood insurance is provided exclusively by FEMA and coverage and premiums are dictated by your flood zone as well as the structure and elevation of your home. Flood insurance can be pricey but is the only way to protect your home from flood damage, which can be devastating.

Author Bio: Greg Sandler
Greg Sandler is a distinguished leader and strategist in the mortgage and real estate investment industry. With over two decades of experience, Greg has honed his expertise in guiding his clients to build wealth through real estate.

Greg Sandler has direct and first-hand experience as co-founder and CEO of USA Investment Group Management Inc., focusing on growing real estate holdings and diversified asset portfolios. Under Greg's guidance, the company has executed hundreds of traditional real estate acquisitions and currently manages a substantial portfolio of rental units.

Greg also has a track record of driving multi-million-dollar revenues and leading high-performing teams to success in mortgage loan originations, achieving the prestigious "Top 1% Originator" status in consecutive years. Currently steering the helm as the President at USALending.AI in Keller, TX, Greg has revitalized this division of a mortgage bank, significantly expanding the company's scale.

Prior to this, Greg's role as Senior Vice President at Fairway Independent Mortgage Corp in Rocklin, CA, was marked by his pivotal contribution in establishing the company's presence in northern California and northern Nevada. Under Greg's leadership, his team of nearly 110 dedicated mortgage professionals originated and funded approximately $800 million in residential mortgages annually.

Greg's professional journey is marked by his exceptional skills in negotiation, sales leadership, financial analysis, and P&L management. His ability to strategize, coupled with his in-depth knowledge of the mortgage and real estate sectors, makes him a visionary leader and a respected figure in the industry.

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