7 Reasons to Get Homeowner’s Insurance

Homeowner’s Insurance

If you are like most homeowners, you will want to make sure that you protect the investment that you have made into your home. The best way to do this is by getting homeowner’s insurance. If you have a mortgage, most lenders will require insurance but there are a number of other reasons you should purchase it, too. You can never be sure what will happen when you are a home owner and because of that, you need to be prepared. Here are seven good reasons to get homeowner’s insurance:

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1 – It Can Protect You From Lawsuits

You might not know this, but you could be held liable if someone is injured on your property. For instance, if you hire an uninsured plumber and they slip and break their arm in your home, you could be responsible for it. With homeowner’s insurance, you are protected.
2 – It Can Protect You From Natural Disasters

Fire, wind, snow and rain can wreck havoc on your home. Almost all homeowner’s insurance policies will cover the damage caused by these disasters. If your area is prone to floods, you will need to get a separate policy. If you home has experienced damage from natural disaster such as a siding damage or a roof cave-in, your insurance company may be able to work with companies like Century Roof Limited in helping you repair your damaged home.
3 – It Can Protect Your Belongings

Homeowner’s insurance will also serve to protect your belongings. If something in your home gets damaged, like a laptop or television, you can get it replaced through your policy. It can also protect your furniture like a couch or a bed. Some policies can also protect perishable items like food. For example, if your home loses electricity for long periods of time, your insurance policy may be able to cover any food that you may have been keeping in your refrigerator. In other words, you may be able to receive money for any food that may have gone bad during natural disasters or damage to your home.
4 – It Can Protect Your Equity

The equity in your home is the part that is over the mortgage value. Essentially, the part you own versus what the bank owns. With homeowner’s insurance, you are guaranteed you will not have to build up that equity again should something devastating happen.
5 – It Can Protect From Theft

No one wants to think that they will be a victim of theft, but it can certainly happen and is more common than you might think. Fortunately, homeowner’s insurance will help in this situation, too helping to compensate for any damage or missing items that may have been a result of a theft in your home.
6 – It Can Give You a Place to Live

Many homeowner’s insurance policies will cover interim housing. You might need to use this feature of your policy if you need to get out of your home for some reason. This could happen if you need service like mold remediation or if your home is destroyed and needs to be built again.
7 – It Can Give You Peace of Mind

A homeowner’s insurance policy will serve as peace of mind for you and this might be the best benefit of them all. If something happens to your home, and you are covered, there is no need to worry about financial ruin.