First, there are two types, lender's and owners. Unless you are paying cash, the lender's coverage is required but that doesn't protect the homeowner, it only protects the lender. The owner's policy is purchased separately by the homeowner. What does an owner's policy cover? How much does it cost? Where does that money go? Should you invest? Boston.com ran a great article that answers all those questions. Click here for full story.
