Today, according to the Insurance Information Institute, approximately 90% of property owners have insured their homes.
If you’re among the 10 percent who still haven’t insured their homes, here are a few reasons why you should take the earliest chance to apply for home insurance:
- It safeguards your home
Aside from protecting your home, it also preserves your property against severe potential hazards.
Regardless of how severe the damage or destruction is, you can rely on our policy to cater for replacement or repair.
- Goes far beyond structural issues
Some home insurance policies ensure your protection in case of a lawsuit as a result of an injury on your property.
Liability insurance is a part of home insurance that caters for lost wages, legal fees or medical bills.
- Your lender may require it
Home insurance is not necessarily a state requirement. However, most lenders demand that you and other homeowners have proof of insurance.
If you don’t have one, the lender could go the extra mile and buy one in your name. This may be included in your monthly payments.
- Avoid the Risk
If you’re considering applying for the right policy, it’s essential that you put into consideration what happens when you’re not insured.
It would be financially devastating for any homeowner to pick up the pieces in the aftermath of a disastrous event.
Home insurance – otherwise known as homeowners insurance – is necessary if you wish to protect your property.
