What is insurance during closing of a home mart?

Hi Friends

I am planning to buy a house very soon and has be approached by couple of insurance companies saying that they give coverage during closing time.

What in truth is this? and Is it really needed? Usually what is the reasonable price for this?

YOu guys have be great in answering all my previous question. Thanks a lot and hope to hear the same giving of fedback.

Thanks
Bob
I am in sort of one and the same boat as you right now. Right now I still own my renters insurance policy for 26 bucks a month that is covering my stuff that is contained by storage, fiance's engagement ring and stuff we have at our temporary living arrangement. I be never told or asked to purchase insurance during closing time. If something happens to the house before you buy it, you chew over it would be all covered by the previous owners.

Personally I don't think it is something needed unless nearby is something different in that state you living in that give you an option of doing so since you are the one making an investment on the house that you want to buy. If it worries you more, just do your homework first and than you know what you requirement and want before talking beside more insurance companies.

Best of luck to you and happy house hunting.
its up to you who you prefer to go with for your home insurance. closely of times your mortgage company will call around to get quotes for you. that's how plentifully of people end up beside insurance on their homes and have no idea who its next to. your mortgage requires you have insurance in place the morning of the closing. once you get a policy in place the agent will convey a binder and invoice to the mortgage company and closing atnys office for you.
Never heard of it and I have gone through 3 home closings.
Only ins. needed is the home owners policy
They are most likely referring to have your home insured for your closing. If you are financing your home the mortgage company will require proof of insurance at the closing. It is typical the insurance company of your choosing will send the atty and bank the binder showing the lender as the mortgagee.

So basicly you call for to get the home insured and have the proof contained by time for your closing.

Answers:    You have to purchase homeowners insurance and it has to be within effect at the time of closing. Wherever you decide to go to purchase your homeowners policy, after you sign the application and vacate either the deposit or one year in full (if required by your mortgage), the agent will bequeath you a binder of insurance to take to the closing. They will probably also fax a copy to the bank & to your attorney.