Definition of Homeowner's Insurance:

Orange County Home Owners Insurance:

Any homebuyer must have homeowners insurance on their home before their lender or bank will make a home loan to them – no exception! This protects them against; fire or other potential damages to the home that made jeopardize the lenders security interest in the property. This policy is not only required by the lender it is also a really good idea for the Orange County home buyer as it includes liability insurance that protects the homeowners against accidents that could occur in the home while they live there. The insurance may or may not be included in the loan payment. Generally if the LTV or CLTV is greater than 80% the investor or bank will require that this insurance be impounded with the taxes. If it less than 80% they usually give the homeowner the option of paying it themselves.


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