Insurance for New Homeowners

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Last Updated: November 10, 2021

The homebuying process can feel overwhelming: where to live, what type of home, what can I afford, applying for a mortgage. On top of that, you also need to navigate your insurance options. Understand the insurance requirements and options when buying a house. 

Start with our Consumer’s Guide to Insurance Needs when Buying a Home​ and Insurance Terms to Know.


Title insurance coverage guarantees the validity of a title to real and personal property. Buyers of property and mortgage lenders rely on title insurance coverage to protect them against losses from undiscovered defects in existence when the policy is issued.

Your home is a major investment along with all of your valued and valuable possessions. Homeowners insurance is money well spent if something goes wrong. 

Damage from flood is not covered by a standard homeowners policy.  Flash floods, severe storms, and downpours can happen at any time. Even if you’re not in a designated flooding area, consider additional coverage through National Flood Insurance Program (NFIP) or private insurers.  

If your property is in an area designated by Federal Emergency Management Agency (FEMA) as a Special Flood Hazard Area, and you have a federally regulated or insured mortgage, you are required to have flood insurance coverage.