Q: Is insurance more for wood construction home versus block construction?
?Anonymous, Punta Gorda, FL
A: No. You need ?hazard? insurance on all homes. If you have a loan, your lender will require it. If you paid cash you should still have hazard insurance on the home. It is not just fire insurance, but even a block home can have extensive damage from fire.
The insurance covers more than fire insurance. If someone gets hurt on your property the insurance should cover you, also if there is theft, or someone breaks a window, or if your water heater floods the home.
Brenda Cunningham is a Realtor? with West USA Realty in Mesa, AZ.
A: Dear Punta Gorda, FL
No, your home insurance is for the whole structure which includes roof and the inside of the home as well. Block construction may cost you less for the coverage than wood, though. You can shop for insurance carriers for price but make sure you read what is and is not covered in that policy.
JoyceM
Joyce Mitchell is a Realtor? with Mitchell & Associates Real Estate in Bigfork, MT.
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Source: http://www.realtor.com/blogs/2012/03/07/do-home-construction-materials-change-the-insurance-rate/
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