Owning a home can be a smart investment that you should protect with insurance. Even if you opt for the minimum amount of coverage, you should still have some insurance in case you ever need it. Here are a few smart reasons to own homeowner’s insurance:
Insurance is intended to protect your house and its contents against some natural disasters, fire and theft. You may have a choice between cash value and replacement value, but either way, you can be protected if something happens. Not all natural disasters are covered, so you may want to discuss any additional policies you want with your insurance agent.
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Homeowner’s insurance can also provide a safety net if someone is injured while at your home. Your coverage can help with medical expenses or additional costs that may be incurred. It’s comforting to know that if an emergency happens, you can have financial protection.
Most mortgage companies require homeowners to have some level of insurance on the property before they will loan the money. It is best to check with your lender to see what criteria they have for coverage in order to be approved for a home loan.
Hopefully, you may never need to use your homeowner’s policy, but isn’t it nice to know you have it just in case? If you have more questions about insurance for your home, contact Sachs Walsh Insurance today.