Homeowner's insurance, another name for hazard insurance, is required by the mortgage company to protect its interest. Homeowner's insurance is one of the most comprehensive insurance policies available today. It not only covers your home and personal property, but also protects you from liability exposure if someone gets hurt on your property.
Your policy protects your home and any structure attached to it, like a porch or garage. Other unattached buildings on your property are also covered as long as they're not used for business purposes or rented to others. Your personal property coverage protects the possessions in your home like clothing, furniture, jewelry, and other valuables. It also protects your property away from home, for example, luggage you take on vacation. You are covered for perils such as fire, lightning, hail, windstorm, smoke, explosion, vandalism, theft, etc. This coverage does not include hurricanes.
The investment a homeowner makes in hazard insurance is worth it for both peace of mind and protection from unexpected loss.
Everyone Should Be Protected When Buying Real Property
The concept of fair housing is not new to REALTORS®. For more than 70 years, the REALTOR® Code of Ethics has required more than mere compliance with the law. In point of fact, the Code of Ethics to which every REALTOR® subscribes represents one of the most comprehensive commitments of affirmative action ever developed in an industry or profession.
Article 10 of the REALTOR® Code of Ethics states that "REALTOR® shall not deny equal professional services to any person for reasons of race, color, religion, sex, handicap, familial status or national origin. REALTORS® shall not be parties to any plan or agreement to discriminate against a person or persons on the basis of race, color, religion, sex, handicap, familial status or national origin."
The Board of Directors of the National Association of REALTORS® approved a Voluntary Affirmative Marketing Agreement (VAMA) and recommended that it be adopted by its Member Boards and its REALTOR® Members. This action was the culmination of many years of sustained effort by Department of Housing and Urban Development officials and committees of the National Association in support of its traditional commitment to equal opportunity in the acquisition and use of real property in America.
The VAMA reflects the positive and voluntary foundation of Article 10 of the Code of Ethics. The goal of the VAMA is "to provide information that will enable minority buyers to make free choice of housing location." This positive formulation is consistent with the aspiration of the Preamble of the Code of Ethics to "...identify and take steps, through enforcement of this Code of Ethics and by assisting appropriate regulatory bodies, to eliminate practices which may damage the public..." The VAMA promotes this idea through a wide variety of education, promotion and advertising. While the VAMA is consistent with the Code of Ethics, it does involve a commitment beyond that required by the Code.
The Honolulu Board of REALTORS® has signed the VAMA, and the principal brokers of member firms are constantly urged to sign the agreement. To date, over half of member firms have signed. Adoption of the Agreement enables the REALTOR® to demonstrate compliance with the Fair Housing laws. The commitment of a Board and its members to voluntary affirmative marketing reduces the need,and therefore the demand, for coercive action by local government. It permits the Board to assume a position of leadership in the solution of fair housing problems because it signals the commitment to their solution in today's real estate market place.
Should you or someone you know suspect that there has been a violation of fair housing laws of Article 10 of the REALTOR® Code of Ethics, you should contact the Honolulu Board of REALTORS® immediately to file a complaint. Only by strict enforcement of our own rules can the Board maintain the atmosphere and climate of fair housing for all Americans that is the ultimate goal of REALTORS® everywhere.