Rachel Harper: Rachael Harper is the Content Marketing Strategist of Bennett & Porter, a wealth management and insurance firm based in Scottsdale, Arizona. When not writing, she makes use of her time reading books and playing bowling with her family and friends.
Your home is more than just a structure, building, or property. Your home is more than just an investment – it is your treasure, your private sanctuary, where you and your family stay together. Your family and your home are your most precious assets, and you have to protect them in the best way you can. It would be best if you had reliable home insurance.
Getting homeowners insurance is one of the best ways to protect your home. It is protection that you get for the same reasons you purchase travel and auto insurance. With homeowners insurance, there is the guarantee that you can rebuild your property after a disaster without spending too much money. With an insurance policy, your home (and family) is safe.
Whether you own a mortgaged home or are thinking of getting homeowners insurance, you’ll enjoy the policy’s protection and benefits.
Here are the reasons why every homeowner needs to get home insurance.
Homeowners insurance protects your home and more.
Getting your home insured protects it from various incidents and disasters such as fire, hail or windstorm, lightning, theft, smoke, riots, explosion, damage caused by vehicles or aircraft, vandalism, and volcanic eruption. The policy protects your house and all other properties, including personal belongings like electronics and furniture. Likewise, the insurance also protects household members who obtain an injury while in your home’s vicinity.
If your home is badly damaged and uninhabitable, you and your family have to stay in a hotel or inn temporarily. With homeowners insurance, you won’t have to worry about paying the hotel or even spending on food and transportation. The policy covers these expenses.
Most lenders require homeowners insurance.
If you apply for a loan or mortgage, the lending company or bank will require you to get homeowners insurance. Financial institutions need to ensure that their investments are safe. For example, if a tornado damages your house, your policy will protect you and your lender from financial loss.
Some homeowners who do not have insurance often end up paying a high premium for their coverage. In cases like this, the lender takes it as his responsibility to purchase insurance on behalf of the homeowner. If you want to be the one to choose your insurer, you need to buy homeowners insurance before meeting with your lender.
Homeowners insurance offers liability coverage.
Besides protecting your house and personal belongings, homeowners insurance also protects you from liability expenses and lawsuits.
If a neighbor is injured while in the premises of your home or a guest drowns while swimming in your pool, or if a neighbor’s house burns because you left your oven or grill on, you can be slapped with a lawsuit and required to pay the claims. With liability coverage through homeowners insurance, your policy will take care of your expenses.
Some of the possible expenses include ambulance fees, x-rays, surgery, hospital room (if the patient is advised to stay for several days), and other pertinent medical costs. Without homeowners insurance, you’ll end up paying the bill – all of it – using personal money. With an insurance policy, you won’t have to spend a single cent!
Homeowners insurance will give you peace of mind.
Having homeowners insurance gives you peace of mind because you’re confident that your house is safe and protected. For example, you won’t have second thoughts about going out at night for a special occasion because you know that whatever happens, your house is insured. If a thief breaks into your home while you are away on vacation or fire breaks out, you’re guaranteed that your policy will help you recover and rebuild.
Homeowners insurance is affordable.
Regardless of what some people say, homeowners insurance is possible, especially if you work with your agent in finding the ideal coverage for your property. Comparing several insurance packages will help guarantee that you’ll get what you’re looking for.
Getting homeowners insurance protects your properties – your home, personal belongings, and everything inside your house. In many aspects, a homeowners insurance policy also protects your family. Talk to your agent if you’re ready to get your home insured.