Do You Need Homeowners Insurance?
If you own a home, then you need insurance to protect your investment. Homeowners insurance offers financial protection when your home has damages from a disaster. This coverage is for things like fire, theft, and vandalism.
Protection for Homeowners
Basically, this insurance is for homeowners who want to protect their homes and personal belongings. A person who rents would need renters insurance which is different from a homeowner’s policy.
This type of policy generally also includes liability coverage. Liability is for when a person sues after being injured on your property. Some policies also provide additional living expenses if you are temporarily unable to stay in your home because of damage.
An important note is that earthquakes and floods are not covered by this type of policy. To insure your home against these natural disasters, you need to purchase a separate policy. Floods are natural disasters that affect several homes or properties in the area. If your home floods because of a burst pipe, that does not count as a flood.
Homeowners insurance is recommended for anyone who owns a home. Even if you do not live in the home fulltime, you still need insurance. An accident can befall a home if you live there or not. Protect your investment and get the insurance you need.