If you purchase a house with a home loan, you are required by the lender to secure insurance before your funds are finalized. This is to ensure that if something happens to the home, the bank’s investment will be covered. Not sure what that means? Basically, if the house burns down, insurance will give you a certain amount of money, depending on your plan, to help rebuild the home the bank has invested in and replace personal possessions lost in the fire. If the same house burns down and you don’t have ... Readmore