For something as ubiquitous as insurance, it is still something that most young adults still question whenever they leave the nest on their own, and into the adult working world.
Despite whatever positive OR negative feelings we may have towards insurance, the fact and law is that we are required to have it. And for good reason, because the ongoing protection of potentially your most valuable asset can't be downplayed.
Keep reading to see our top six reasons why home insurance is necessary, and how we can probably save you a few hundred bucks per year on yours by getting a second opinion with our team.
1. Required By Your Lender
New home buyers will swiftly learn what those who have a mortgage already know... your bank or mortgage company will most likely require you to purchase homeowners insurance coverage. That’s because lenders need to protect their investment, and in the unfortunate event your house burns down or is badly damaged by a hurricane or other disaster, homeowners insurance safeguards them (as well as you) against financial loss.
2. Protects You From Loss
Whether a small piece of your property is damaged or your entire house is destroyed, the coverage on your average home policy steps in to help pay for repairs and replacements so you're not left footing the bill. These hazards can include wind damage, fire, vandalism, tornadoes, hurricanes, and thunderstorms.
3. Covers Your Personal Property
Personal property coverage protects the items inside your home... like furniture, appliances and other personal possessions from the many things that can destroy them. The really great thing about this part of homeowners insurance is that your belongings are also protected outside of the home as well. So whether they are destroyed, or stolen, inside or outside, your property is covered. Boom! Covered.
4. Protects Your Liability
No one ever wants an accident to occur on your property, and measures are typically taken so that doesn't happen. But, sometimes Billy cuts a backflip off the side of the pool and gets injured or the mailman may trip on a crack bringing your Amazon packages to the doorstep. With a homeowners policy, you're covered in the event of a lawsuit arising from an injury on your property.
5. Pays For Temporary Housing
What happens when your home is damaged from a hurricane, or from a fire in the kitchen? Where do you live temporarily while the repairs and restoration is taking place? With your homeowners insurance policy, you're covered and the policy will pay for living expenses for an apartment, hotel, etc. It even potentially pays for food, internet service, and anything else that brings you back to the level of normalcy you need to be at, while displaced.
6. Provides Peace of Mind
Again, your home was purchased to become your most valuable asset. With the protection of the policy, you can rest easy and know that in the event of a catastrophe, you're good to go.
Want To Save On Your Home Insurance?
Our agency is built on the principles of service, and our mission remains: "Anxiety mitigation through consultation, where client satisfaction is the ultimate measure of performance. Happily." If we can be of service and walk you through the process of a new homeowners policy, please send us a message by clicking here.