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Originally posted by LarryXXX View Postyou have get get homeowners insurance or renters insurance to have it covered
larry, i wouldn't have been able to borrow money to buy the property without insuring it. i have an h06 policy on my condo, and a relatively standard policy on a two family i bought in '15. i also pay into a master insurance policy in my condo association to insure common elements, like the building, parking lot, etc.
the policies cover the structure, my stuff, liabilities, and long-term displacement. you can't get a mortgage without insurance, at least in MA, and that the bank will insure the property with an expensive, garbage policy and bill you for it if you cannot prove that it's insured adequately.
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Originally posted by New England View Postlarry, i wouldn't have been able to borrow money to buy the property without insuring it. i have an h06 policy on my condo, and a relatively standard policy on a two family i bought in '15. i also pay into a master insurance policy in my condo association to insure common elements, like the building, parking lot, etc.
the policies cover the structure, my stuff, liabilities, and long-term displacement. you can't get a mortgage without insurance, at least in MA, and that the bank will insure the property with an expensive, garbage policy and bill you for it if you cannot prove that it's insured adequately.Last edited by Larry the boss; 01-29-2016, 06:37 PM.
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