• October 23, 2017
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Home Insurance: What You Need and Why You Need It

Homeowners insurance provides financial support to you if an incident occurs leaving you with significant damage to your home or your belongings. Mortgage lenders often require home insurance but it tends to be a valuable investment for anyone who owns a home. And, if you rent your home, renters insurance provides you with a number of safeguards as well.

What Does Homeowners Insurance Offer?

Homeowners insurance is available for those that own their home with or without a mortgage. It will:

  1. Provide financial compensation for losses from accidental and unavoidable events such as fires, thefts, vandalism, and storm damage.
  2. Provide financial settlements and legal defense in matters of liability, in which someone else claims you’ve been negligent.
  3. Cover your home’s structure as well as the contents within your home, such as your furnishings and personal belongings.
  4. Often cover the rebuilding of your home if it is a total loss.

What Does Renters Insurance Offer?

If you don’t own, but rent your home, renters insurance helps protect your assets (all of the items you own in your home) and provides liability coverage for those filing a claim against you after visiting your home. It’s very affordable and gives you protect your property owner does not offer.

What Does Condo Insurance Offer?

Condo insurance is available for those who own a condo that has shared spaces. Your condo insurance covers your responsibility and ownership, but not the shared areas of the structure.

Having adequate insurance for your home helps minimize your financial loss. It gives you peace of mind while also ensuring you don’t have to suffer loss at some of the worst times of your life. It provides protection up to the limit listed on your policy. And, you can customize it to meet any of your specific needs.