You will need to purchase homeowners insurance equal to the purchase price of the house you are buying.

Question

Quizplus · Accepted Answer

Homeowners insurance is not necessarily equal to the purchase price of the house. It covers the costs of repairing or rebuilding the structure in case of damage, as well as personal liability and property damage. The amount of coverage needed may vary based on factors such as the size and location of the home, but it is not tied directly to the purchase price.

You Will Need to Purchase Homeowners Insurance Equal to the Purchase