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Home insurance isn’t just something you should have, it’s something you need to have. Of course, there are some situations where even home insurance isn’t enough to protect your family and property, but this kind of insurance can give you peace of mind knowing that if something happens, you will be compensated with the money needed to repair your home and replace your belongings. If you have any doubts about the importance of home insurance, here are seven reasons why home insurance is a must.

Home insurance can seem like an unnecessary expense, especially if you don’t have the best track record with renters or homeowners’ insurance. You likely don’t think about it much until it’s needed, but home insurance is important because it protects you from everything from natural disasters to break-ins to damage caused by your own pets. If you’re not sure why you should have home insurance, these seven reasons will tell you exactly why it’s necessary in today’s world.

 

Protect What's Important

Homeowners insurance helps protect the most important investment you have, your home. It will cover damages in the event of theft, fire, or an unfortunate accident. You'll also receive protection if someone is injured on your property. When you're researching different companies, be sure to ask about things like deductibles and coverage limits to make sure you get what's right for you. WHY?

1: Protect Your Investment

2: Get Peace of Mind

3: Protection from Liability

4: Rental Building Insurance

5: Off-Premise Liability Coverage

6: Personal Property Protection

7: Loss of Use

 

Protection from Fire Damage

A home fire is one of the most devastating events that can happen to you and your family. If your house catches fire, you'll need to be able to rebuild it, or at least have funds for living elsewhere while you're rebuilding. The best way to protect against this is through home insurance. A good policy will cover the cost of rebuilding and may even cover living expenses while your house is being rebuilt. Most policies also cover theft and vandalism and natural disasters like floods or earthquakes.

Protection from Fire Damage: If your house catches on fire, you'll need to be able to rebuild it, or at least have funds for living elsewhere while you're rebuilding.

 

Water Damage Section

Water damage is one of the most common reasons for home insurance claims. It can occur in any room of the house, but it's most likely to happen in the kitchen and bathroom because they are places where water is used most often. If you have mold damage in your house and don't take care of it right away, you may be looking at more expensive bills to rebuild your home or repair the mold and mildew problems.

What You Need to Know about Floods

The cost of flood coverage varies depending on what part of the country you live in. In general, if you live near a coastline or another area with high risk for flooding, it's worth paying for flood insurance coverage.

 

Property Collision Coverage Section

Collision coverage protects your home from accidental damage. This can include items like broken windows or damage caused by car accidents, which are not covered by homeowners insurance. Property collision coverage includes damages to the exterior and interior of your home that is caused by an accident with another vehicle.

Property Damage Liability Coverage protects you from being sued if someone's property was damaged because of something you did. For example, if you backed into someone's car in the grocery store parking lot and they were able to prove that it was intentional, this insurance would cover the cost of their repairs to their vehicle as well as any medical bills they may have incurred because of injuries sustained during the incident.

 

Personal Liability Section

Personal liability is one of the most important aspects of any homeowner's insurance policy. This protects you in the event that someone sues you for damages caused on your property. If someone slips and falls on your ice-covered driveway, they might try to sue you for medical expenses or other damages - this is when personal liability kicks in! Personal liability insurance will help pay the settlement or award if the plaintiff wins their case against you.

Personal liability insurance also covers defense costs if you are sued, such as attorney's fees, court costs, and other legal fees associated with defending yourself from an insured claim. You can purchase this type of coverage as an endorsement to your existing homeowners' policy or as a standalone policy, depending on what works best for you.

 

Get Multiple Quotes

Every home is different and it's important to get an insurance quote for your exact situation.

Here are 4 reasons why you should get quotes from at least three companies before you buy your coverage.

1) To make sure that you are getting the best deal possible on the coverage that suits your needs.

2) To compare rates so that you can feel confident in selecting the provider with the most competitive rates.

3) To find out if there are discounts available based on your particular situation.

4) To learn more about what coverages are included in each policy, so that you know exactly what to expect when filing a claim or making a payment.

 

Don’t be Afraid to Ask Questions

You should never feel embarrassed to ask your agent any questions, big or small. They are trained to understand the ins and outs of your policy so they can better help you make the most informed decision possible. Plus, it’s their job to know everything there is about home insurance! Your agent will be able to go over the specifics of your coverage, answer any questions you have, and even review comparable plans in case you find one that suits you better. Remember that agents are here for you and want to help!

1) Can my policy cover damage from an earthquake?

2) Will my home insurance cover theft?

3) What happens if I don’t report a claim within 24 hours?

4) How do I save money on premiums?

 

Home insurance can be an expensive line item in your budget, but it’s the best way to keep your home and family safe from unexpected disasters and tragedies. With an average of over 30,000 home fires in the US every year, it’s crucial that you protect your investment and belongings against fire damage, as well as other common household disasters like earthquakes, hurricanes, and floods.