Why do you need homeowners insurance?
Homeowners insurance, much like most insurance, is something that you hope you never have to use…but if you need it, it is invaluable. Your home is your safe haven - your personal space which you have worked hard to obtain. Therefore, it is essential that you protect this fantastic investment, as well as everything that sits inside of it. Whether it pays for natural disasters, such as flooding or lightning damage, or human-made problems, such as fire, vandalism or theft, homeowners insurance can get you back on your feet and give you back a normal life after your house or possessions are damaged or lost.
Although you aren't legally required to have homeowners insurance, if you want to borrow money from a bank or credit union, your lender will likely insist on it. Furthermore, if you own a condominium or rent a dwelling, the tenants' association might require you to have insurance coverage, since if something happens to your condo/apartment it could affect everyone else's around you.
When you are applying for insurance, we recommend that you take photos or video of your possessions so that, in case of catastrophe, you'll already have records of what you own…this will simplify the process of filing a claim. It's also worth reading through your policy, as there could be expenses that you may not realize you could get back money for. Check what your policy covers and what it excludes.
Even if you maintain your house well and you're not in the path of natural disasters like hurricanes or tornados, homeowners insurance comes in handy for unexpected scenarios. For example, if you throw a goodbye party for a friend and a guest trips inside your property and hurts himself, he could hold the owner of the property (you) responsible. Homeowners insurance should pay for the injured party's medical expenses and protect you against legal problems…all important coverages you want to ensure you have!
Do you have the right amount and type of homeowners insurance? Contact us today for a free consultation and quote, and we’ll ensure that you’re properly covered.