The Importance of Homeowner's Insurance

Posted by Jessica Akright on Aug 25, 2016 05:00:00 AM

Topic: ALL

Husband and wife looking at their new home

Your home is your biggest investment. And unlike your car, which depreciates as soon as you drive it off the lot, the investment you make in your home will appreciate over time and can ensure your future financial security. There are several reasons why home insurance is so critical.

Mortgage lenders will require that your home is insured to protect their financial investment. If you don’t take care of this, they may charge you for a policy that may cost more than one you buy yourself.

Homeowner’s insurance should cover the cost or replacing items stolen during a break-in or to rebuild if your home is destroyed or damaged by a covered event. It’s a good idea to have an inventory of possessions to help estimate how much coverage you need or to file a claim.

The liability portion of your insurance covers injuries incurred by others on your property. Accidents happen but insurance can help protect you against financial loss due to the injured party’s medical expenses and any lawsuit.

Your homeowner’s insurance policy is a must-have safety net that protects your most important investment against most instances of loss. Which is why getting a good policy with the right level of coverage should be one of your highest priorities.

Start by reading these tips for finding an insurance broker or agent or request a quote today