I’ve always wondered why homeowners insurance is important. Actually, why any insurance is important, because I am super careful with everything. I’m not super crazy. I don’t throw parties. I just live and chill in my house. Then, I got a call from a friend whose house was devoured by a fire.
Why Homeowners Insurance? Required
More than just protecting your investment, having insurance in your home is a requirement in some cases. When a lender approves your home, you will often be asked if your home is insured. Accidents happen and the insurance gives you the safety net should something happen. In many areas where risks are higher, it makes sense to have flood or earthquake insurance. You may still need to pay to replace your belongings, but at least it will not be all of it.
To Protect You and Your Family
As with any policy, you can have a comprehensive home coverage or pick and choose what you need for your home. My friends house was not insured. I don’t know how they got away with not having any, but they had to create a GoFundMe campaign just to help cover the damages done to their home.
Here are some of the coverages you should have in your home:
- Dwelling and other structures – appendages to your house like garages, or decks, can be included in your policy should damage occur.
- Personal Property – in cases of theft, or natural emergencies, your policy can cover and help pay for your items that you’ve lost.
- Family and Guests – if accidents happen in your home with a guest, the insurance protects you from being financial liable for medical expenses. Similarly, if you are found legally responsible for damages at another property, the policy can act as a buffer and cover expenses.
- Living expenses -in case your home is not livable- termites, national disasters, etc.- and you need someplace else to stay, this insurance coverage can take your expenses into account.
So when speaking to Perry Homes Southern Utah about your home, ask us about policies we have pertaining to insurance. Stay safe and keep your family protected.
