Page 49 - Steps to Success
P. 49
It will cover you against loss of or damage to the structure of your
home by events such as:
o Theft and attempted theft
o Malicious damage
o Fire or explosion
o Acts of nature such as wind, lightning, storm, hail, flood
o Earthquake
o Burst, leaking or overflowing from geysers or water pipes
o Impact caused by vehicles, falling trees and aircraft
4.2.4 Your policy includes, among others, the following benefits:
o Alternative accommodation after an insured event
o Hiring of guards to protect property after an insured event
4.3 Life insurance
Mortgage loan insurance should not be confused with mortgage life
insurance, which protects you in the event something happens to
you. This type of insurance might be suitable for a young couple or
family where there is only one breadwinner, for example. Costs are
usually much cheaper than loan insurance.
Obtaining life insurance instead of mortgage life insurance is the
best bet.
4.4 Legal fees
Legal fees for buying real estate range in price, depend on your
situation, and must be paid upon closing.
When purchasing brand new developments, since such deals can
involve more paperwork, the cost might be higher. Your WEST
ANDERSON agent can provide you a local lawyer if you don't already
have a relationship with one.
