What Is Homeowner’s Insurance, and Do I Really Need It

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What Is Homeowner’s Insurance, and Do I Really Need It

1. Homeowner’s Insurance Protects You From the Unexpected

Think of homeowner’s insurance as your home’s shield against life’s curveballs. It typically covers:

  • Fire and smoke damage
  • Theft or vandalism
  • Storm and water damage (within limits)

Liability if someone’s injured on your property
It also helps cover the cost of repairing or replacing your belongings—and in major events, even helps pay for temporary living expenses if your home becomes unlivable.

2. Most Lenders Require It Before You Can Close

Homeowner’s insurance isn’t optional if you’re getting a mortgage—your lender will require a policy before you can close on your home. That’s because the lender is also financially invested in the property. Your insurance protects both you and them from losses if disaster strikes.

3. Review and Update Your Policy as Your Life Changes

Buying a policy isn’t a one-time thing. As you renovate your home, buy valuable items, or your local risks change, it’s important to review your coverage annually. Make sure your policy reflects what it would actually cost to rebuild your home today—not what it cost years ago.

Ready to Find the Right Policy for Your First Home?

📘 Download our free “First-Time Buyer Game Plan” eBook — includes an insurance checklist and tips on what to cover
💬 Start a live chat and get help estimating your monthly insurance cost
📞 Or schedule a call to review how homeowner’s insurance fits into your full mortgage plan

At Stairway Mortgage, we make sure your home—and everything inside it—is protected.
Because peace of mind is part of smart ownership.

Ready to Take Your First Step?

Skip the guesswork. Take our quick Discovery Quiz to uncover your top financial priorities, so we can guide you toward the wealth-building strategies that fit your life.

  • Takes just 5 minutes
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Buying a home soon? Complete our short form and we’ll connect you with the best loan options for your target property and financial situation—fast.

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