Property: Homeowner's Insurance

Homeowners Insurance (HOI) documents can be in the form of a HOI quote, policy, binder or declarations page. Homeowners insurance protects the borrower and mortgage company in case the unexpected happens to the home. The home insurance company provides the borrower with coverage specific to their home, belongings, and the other structures on their property. If an incident out of their control occurs at their home, they can file a claim with their insurance company to potentially receive payment for covered losses.

Context: Identifying the document.

1. Insurance company logo

2. Document title with insurance verbiage: coverage declaration, declarations page, hazard insurance, homeowner’s insurance, policy page, insurance binder, certificate of insurance, etc.

Key takeaways: Important information.

1. Insured persons/entity

2. Property information

3. Policy number

4. Effective and expiration date

5. Agency and contact information

6. Coverage information

7. Policy premium

8. Additional interest

9. Loan number