How does an Insurance Broker help in a home purchase?
Blog by Diane Cardoso | April 4th, 2014
How does an Insurance Broker help me in a home purchase transaction? Whether you are buying a single family or strata-type property, you will need home insurance. If you are purchasing a single family home, the Bank will require a copy of the insurance policy before they will advance the mortgage funds. If you are purchasing a strata home, you will only need to purchase 'contents' insurance and the building coverage will be included in your monthly maintenance fees. You may also want to consider looking at some life insurance, to cover the mortgage debt in the event of death. It's always good idea to protect yourself and your family!