Mortgage lenders require borrowers to carry homeowner’s insurance to protect their property, but the coverage limits may not be enough to protect your interests if something goes wrong. If you own the property outright, you may decide to skip home insurance to save money, but that decision could cost you a small fortune in the long run. Between fires, storms, and criminal activity, your home faces a variety of threats, which is why everyone needs the protection a good insurance policy offers.

3 Reasons to Carry Homeowner’s Insurance

1. Protection from Damage

Disasters like fire, floods, and windstorms can cause tens of thousands of dollars in damage or destroy your home. If you have sufficient coverage, your homeowner’s insurance will cover the repairs or pay to have it rebuilt after a complete loss. Most homeowner’s insurance policies will also cover the cost of alternate living arrangements if your house is uninhabitable while repairs are underway.

2. Liability Coverage

Homeowner’s insurance coverage extends far beyond your house, protecting you from the financial consequences caused by your or a family member. If your dog bites someone, your lawn mower throws a rock into a neighbor’s car, or your kids accidentally break a window, your policy will cover your legal liability, as well as the legal fees you incur.

3. Personal Property Protection

Homeowner’s insurance also includes protection for your possessions, from your jewelry to electronics to kitchen appliances. Even belongings lost to burglary or vandalism are covered, although you might need to purchase additional coverage for especially valuable items.
 

For over 40 years, homeowners throughout the Randleman, NC area have relied on MP Davis Insurance Agency for protection against life’s uncertainties. Their agents understand how important your home is to you, so they take the time to fully understand your needs and find a policy perfectly tailored to meet them. Visit their website now for an overview of their services, or call (336) 498-7606 to speak with an agent and request a homeowner’s insurance quote.