Homeowners insurance is what protects your investment when purchasing or owning a home. One problem when you can’t get homeowners insurance because of roof issues or the insurance company requires a new roof has its consequences. A disaster such as a fire, water damage, or an injury that puts the homeowner’s liability at risk, is only part of the problem. Most lenders of home loans require the owners of a home to have coverage in case of a catastrophe.
It is imperative to do all you can as a homeowner to not lose your insurance coverage. If you do lose coverage, your lender may have the right to foreclose on the home. The easiest way to make sure you do not lose your coverage is to make sure your home is properly maintained throughout the time you are in the home.