The purchase of a new home is a complicated and stressful process; the one thing you absolutely must avoid is worrying about the many different kinds of insurance and insurance coverage available to homeowners. But there are big differences between mortgage and homeowner's insurance that should be kept in mind.
Both homeowners insurance and mortgage insurance are types of insurance. Mortgage insurance exposes you to both of these types, which can increase the cost of home ownership. Their similarities, though, cease there.
When you buy a house, the loan you choose will determine how long you will be making payments. But what will happen to your mortgage if anything unexpected happens to you, like death or disability? This is where mortgage protection insurance comes in.