Your own personal peace of mind is the biggest reason to get home insurance. You have worked hard to get your house and the belongings within it. A policy will protect all the items in or around your home and will cover the house itself. You may think that you do not need coverage and that nothing bad will happen to you. Many people have thought the same thing until it does happen. Without coverage, you can lose everything that you have. Starting over from scratch is not something that you want to have to do.
There are 5 main reasons that you should get some type of coverage.
- Property Damage- There are many ways that property damage can occur. Natural disasters are the biggest. Floods, tornados, hurricanes, earthquakes, windstorms, and other types of damages that mother nature has decided to throw at you. Damage from people can also happen. Whether from a family member, friend, or a random person. For instance, a drunk driver decides to park in your living room.
- Liability Claims- People get hurt on your property occasionally. Someone trips on your stairs, or falls off the roof, or even breaks an arm on the trampoline. You want to have insurance to cover it if someone decides to sue for damages. Unfortunately, society today shows that people prefer to sue rather than work things out outside of court, so you need to make sure that you are covered.
- Personal Belongings- When accidents or disasters happen your home and property are not the only things that can be damaged or destroyed. Personal belongings such as your car or truck, tools in a smashed garage, or paintings and furniture that have gotten soaked with water. This is where you need to know how much your personal items are worth. The actual worth of them, not what you personally think that they are worth. Every agent has different policies and standards so it is important to use a company that has a section that will home insurance compare for you.
- Theft- People helping themselves to the items that they have worked hard for happens every day. Cars stolen and damaged. Electronic items and jewelry are taken for monetary value. A purse or wallet was stolen out of your car or shopping basket. Whatever the item is your coverage should help with the cost of replacement.
- Lenders- If you have a mortgage, loan, or are planning to get a loan, all lenders require home insurance. It covers the lending agent in case something happens. For instance, if you live in a high flood plain area, they will require you to add flood insurance to your policy. Each lender will have its own stipulations, but if you have a policy, it is a simple task to add what is needed.
The reasons to get home insurance coverage are many. You do not want everything that you have earned and achieved through hard work, payments, or both, to be lost in a matter of minutes. It does happen, though, which is why it is so important to find a good agent and get the policy that works best for you.