Purchasing a home is one of the largest investments consumers can make. But despite the high-value property can bring, some believe protecting it with home insurance isn’t worth the expense. For most homeowners, this decision could be a major mistake.

As a trusted independent insurance agency in Rochester, NY, Consolidated Agency explains some of the reasons you won’t want to be left without home insurance: 

1. It Could Be Required

Unlike car insurance, home insurance may not always be required if you own your home outright. However, if you mortgage your property, your lender will likely require you to have a certain amount of coverage to protect their investment until the home loan is paid off.

2. It Covers the Structural Property

Renovating or repairing your home’s structure can be costly, especially if you don’t plan for it, like when a disaster strikes. In serious cases, you can’t always wait to save money for extensive home repairs. With insurance, you can finance your restoration with confidence.

3. It Protects Your Belongings

Even if you don’t think your home is valuable enough to protect, you may have a lot of personal belongings you’d want to be covered in an emergency. Fortunately, home insurance isn’t only designed to cover repair needs—from appliances to artwork, it can also provide financial compensation if anything is damaged or stolen.

4. It Shields You & Your Family From Certain Expenses

There are a few different ways home insurance can protect the members of your household from excessive financial obligations. For example, general liability coverage can cover legal fees if anyone sues you for damage or injury that happened on your property. Also, if your policy includes additional living expenses, your insurance can help pay for housing, food, and other essentials if you and your family are temporarily displaced from your home.

5. It Can Pay for Injuries to Guests   

Accidents can happen in your home, and sometimes, they can happen to visitors. If someone is injured on your property and they require medical attention, your home insurance policy may cover these costs.

While you need property insurance if you’re a homeowner, it doesn’t have to break your budget. If you’re looking for the best coverage at excellent prices, the experts at Consolidated Agency can equip you with affordable home insurance in Rochester, NY. To request an insurance quote or discuss your options, call a friendly agent at (585) 467-4110.