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Home Equity Insurance

Home Equity Insurance

Definition

Insures a home owner against declines in home prices. This insurance requires the insured to make a one-time up-front premium payment. If the housing price index for that neighborhood decreases from the time of this payment, the home equity insurer would pay that individual an amount based on the percentage decrease from the policy's inception to when the house is sold. This coverage is also referred to as home value protection.

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