What is homeowners insurance?

Homeowners insurance is a type of insurance policy that provides financial protection to homeowners in the case of property damages or loss. In Oregon, homeowners insurance is required in order to purchase a home and can help cover the cost of repairs or replacements due to unexpected events such as fires, storms, or theft. Policies typically include liability protection that pays for medical bills and legal fees if someone is hurt while on the property. Homeowners insurance can also provide coverage for additional living expenses if you need to stay in a hotel due to damages or repairs to the home. In some cases, you may even be able to get reimbursed for any lost wages due to temporary displacement. It’s important to understand the specifics of your homeowners insurance policy to ensure you have the coverage needed to protect you and your family. When seeking a homeowners policy, you’ll want to shop around to compare rates. Residing in Oregon, there are some additional protections you may receive so make sure to discuss them with your insurance provider. Additionally, it’s important to be aware of Oregon’s specific laws regarding residential real estate to ensure you’re taking all necessary steps to protect your investment.

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