{"id":4791,"date":"2021-06-29T12:28:21","date_gmt":"2021-06-29T12:28:21","guid":{"rendered":"https:\/\/scarletoakfs.webarc.dev\/?p=4791"},"modified":"2023-04-12T16:43:37","modified_gmt":"2023-04-12T20:43:37","slug":"home-insurance","status":"publish","type":"post","link":"https:\/\/scarletoakfs.com\/home-insurance\/","title":{"rendered":"Home Insurance"},"content":{"rendered":"<p>You\u2019ve purchased a home. Congratulations. You now need to protect this large purchase with insurance. Insurance amounts and needs will vary from home to home, area to area, and person to person. But here is a breakdown of the most common Home Insurance needs:<\/p>\n<p><strong>Title Insurance<\/strong>-Title insurance protects property buyers and mortgage lenders against defects or problems with a title when transferring property ownership. The party responsible for paying for the two policies-the buyer\u2019s and the lender\u2019s- varies from state to state and sometimes from county to county.<\/p>\n<p><strong>Homeowners Insurance<\/strong>&#8211; A standard homeowner\u2019s insurance policy includes four essential types of coverage.<\/p>\n<ul>\n<li>Coverage for the structure of the home<\/li>\n<li>Coverage for personal belongings<\/li>\n<li>Liability protection<\/li>\n<li>Additional living expenses<\/li>\n<\/ul>\n<p><strong>Private Mortgage Insurance<\/strong>&#8211; Private Mortgage Insurance (PMI) if you put less than 20% down to buy your new home. PMI protects the mortgage lender if you stop making mortgage payments.<\/p>\n<p><strong>Flood Insurance<\/strong>-Flood insurance can be mandatory for homes in flood-prone areas. If your property is in an area designated by FEMA (Federal Emergency Management Agency) as an SFHA (Special Flood Hazard Area), you\u2019re required to have flood insurance coverage.<\/p>\n<p>An additional consideration that isn\u2019t directly related to the home but might be vital for you to consider is Life Insurance. By having the safety net of Life Insurance, your loved ones don\u2019t need to worry about payment of the mortgage without your income. Losing a loved one should not be followed by losing a home.\u00a0 Need to review your insurance needs? <strong>Scarlet Oak Financial Services can be reached at\u00a0<\/strong><a href=\"tel:8008711219\"><strong>800.871.1219<\/strong><\/a><strong>\u00a0or\u00a0<\/strong><a href=\"https:\/\/scarletoakfs.com\/contact-us\/\"><strong>contact us here<\/strong><\/a><strong>.<\/strong><\/p>\n<p>Sources:<\/p>\n<ul>\n<li><a href=\"http:\/\/blog.ditech.com\/blog\/what-type-of-insurance-do-i-need-when-buying-a-home\">http:\/\/blog.ditech.com\/blog\/what-type-of-insurance-do-i-need-when-buying-a-home<\/a><\/li>\n<li><a href=\"https:\/\/www.iii.org\/article\/homeowners-insurance-basics\">https:\/\/www.iii.org\/article\/homeowners-insurance-basics<\/a><\/li>\n<li><a href=\"http:\/\/insurancehomeowner.homeandfamily.online\/how-to-make-sure-you-get-the-right-home-owners-insurance\/?r=7088039234\">http:\/\/insurancehomeowner.homeandfamily.online\/how-to-make-sure-you-get-the-right-home-owners-insurance\/?r=7088039234<\/a><\/li>\n<li><a href=\"https:\/\/www.thelifegroup.org\/why-life-insurance-matters-for-new-homeowners\/\">https:\/\/www.thelifegroup.org\/why-life-insurance-matters-for-new-homeowners\/<\/a><\/li>\n<\/ul>\n<p><em>\u00a0This material has been prepared for informational purposes.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>You\u2019ve purchased a home. Congratulations. You now need to protect this large purchase with insurance. Insurance amounts and needs will vary from home to home, area to area, and person&#8230;<\/p>\n","protected":false},"author":2,"featured_media":6775,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[595,582],"tags":[452,453,454,274,455,456],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.5 (Yoast SEO v22.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Home Insurance - Scarlet Oak Financial Services<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scarletoakfs.com\/home-insurance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Home Insurance\" \/>\n<meta property=\"og:description\" content=\"You\u2019ve purchased a home. Congratulations. You now need to protect this large purchase with insurance. Insurance amounts and needs will vary from home to home, area to area, and person...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/scarletoakfs.com\/home-insurance\/\" \/>\n<meta property=\"og:site_name\" content=\"Scarlet Oak Financial Services\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ScarletOakFS\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-29T12:28:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-12T20:43:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/scarletoakfs.com\/wp-content\/uploads\/2021\/06\/400x343-Home-Buying-Articles-2021_Page_06.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2500\" \/>\n\t<meta property=\"og:image:height\" content=\"2144\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Morgan Roopnarine\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Scarlet_OakFS\" \/>\n<meta name=\"twitter:site\" content=\"@Scarlet_OakFS\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Morgan Roopnarine\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/scarletoakfs.com\/home-insurance\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/scarletoakfs.com\/home-insurance\/\"},\"author\":{\"name\":\"Morgan Roopnarine\",\"@id\":\"https:\/\/scarletoakfs.com\/#\/schema\/person\/68a23ec52bc5ee7f564aca673c31b89a\"},\"headline\":\"Home Insurance\",\"datePublished\":\"2021-06-29T12:28:21+00:00\",\"dateModified\":\"2023-04-12T20:43:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/scarletoakfs.com\/home-insurance\/\"},\"wordCount\":300,\"publisher\":{\"@id\":\"https:\/\/scarletoakfs.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/scarletoakfs.com\/home-insurance\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/scarletoakfs.com\/wp-content\/uploads\/2021\/06\/400x343-Home-Buying-Articles-2021_Page_06.jpg\",\"keywords\":[\"Flood Insurance\",\"Home Insurance\",\"Homeowners Insurance\",\"Life Insurance\",\"Private Mortgage Insurance (PMI)\",\"Title Insurance\"],\"articleSection\":[\"Homeownership\",\"Money Management\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/scarletoakfs.com\/home-insurance\/\",\"url\":\"https:\/\/scarletoakfs.com\/home-insurance\/\",\"name\":\"Home Insurance - 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