Three Reasons You Need Homeowners' Insurance

If you just purchased a home with cash, or you just paid off your home, you still need to carry homeowners' insurance. Homeowners' insurance is one of the best ways to protect one of the biggest investments you have ever made, your home. You should carry homeowners' insurance regardless of if you have a mortgage that requires you to carry insurance or not. Here are a few benefits that homeowners' insurance provides you with.

Reason #1: Protect You from Liability Issues

One of the primary reasons you should carry homeowners' insurance is because it provides you with protection against personal injury lawsuits. For example, if a guest is over at your home, and tricks over a rock in the backyard and breaks their arm, your insurance would cover their medical bills and any lawsuits they may bring. Or if a contractor is injured while working on your home, your liability coverage would step in and cover any financial ramifications of their injury. Your homeowners' insurance ensures that you are not left to pay the bills by yourself and that your personal home and savings are not put at risk.

Reason #2: Protect Your Personal Belongings

When you purchase homeowners' insurance, you are not just protecting your home, you are protecting all of your personal belongings inside of your home. If for some reason your personal belongings were damaged, destroyed, or stolen, your insurance would step-up and help you financially replace the stolen items.

If you look around just the room you are in right now at all your personal belongings, you will more than likely see hundreds or thousands of dollars' worth of belongings. Having homeowners' insurance is the best way to protect the investment you made into all your personal belongings.

Reason #3: Protect Your Home from Damage

Homeowners' insurance can help replace your home if it is a total loss, such as after a fire. homeowners' insurance also covers other types of unexpected damage. Did your kid leave the bathtub running and forget about it, flooding a few rooms? Your homeowners' insurance will pay to clean up the water and replace everything that is damaged. When an expected event harms your home, yard, or even your garage or shed, homeowners' insurance is designed to step in and cover the repair costs

When it comes to protecting your home, you need to make sure that you have homeowners' insurance. It can protect your personal belongings, give you funds to repair your home in the case of an emergency, and protect you from liability issues.

For more information on homeowners' insurance in your area, contact an insurance agent near you.