Homeowners’ Insurance Intro
Your home is a huge investment. That’s why it makes great sense to have insurance coverage for your home. If you don’t have insurance, then you’ll have no financial assistance if disaster strikes your home. But with insurance, you will have financial assistance to make repairs or rebuild following certain occurrences.
This insurance protects your home and possessions from any covered event or peril that causes loss or damage. This includes fire, theft, accidents, and vandalism. It also offers liability coverage, which is protection should anyone be injured on your property and file a lawsuit against you.
Anyone who owns a home should have homeowners insurance. You might not want the expense, but it’s worth it. If you can’t easily pay to replace your house, then you need insurance for financial assistance. Even people who are wealthy have insurance.
Your policy will extend to some natural disasters, but flood and earthquakes are normally excluded. You will need to purchase flood and earthquake insurance separately, or ask specifically to have that coverage added. If you live in an earthquake or flood area, then you need that coverage.
You can discuss with your insurance provider about how much coverage you need. It will help to know the value of your home and to estimate the value of your belongings. For expensive items, such as antiques or jewelry, you can add supplemental coverage for them.