Have you recently purchased a new home? If so, your first order of business should be acquiring a homeowners insurance policy. This is a necessary step for every homeowner who wants to safeguard what will likely be the biggest investment of their life. Albers Insurance Agency has been serving the greater Cincinnati, OH, area since 1949. These trusted insurance agents share their top reasons why purchasing homeowners insurance should be a requirement for any person considering purchasing a home.  

Top 3 Reasons to Purchase Homeowners’ Insurance

Your Mortgage Lender Will Likely Require It

While homeowners insurance isn’t a requirement in many states, if you have a mortgage, your lender or bank will likely require that you carry enough insurance to cover the mortgage amount. In the event that you don’t carry a policy, a lender can initiate one on your behalf. This is called a forced policy, and the premiums are much more expensive than on one you might purchase yourself.

Protection Against Loss

A homeowners insurance policy will protect more than just the value of your home. In the event that either you or a visitor on your property are injured, a typical policy will cover any possible lawsuits, as well as medical bills of the injured party. If your home is burgled, your policy normally covers the amount of any replacements. With the exception of flooding, if your home is damaged or destroyed in a natural disaster, your policy will cover its replacement value up to the amount of the mortgage.

Preservation of Your Equity

Purchasing a home will likely be the largest investment of your life. By purchasing a homeowners insurance policy, you are preserving your investment by protecting it against natural disasters and damage. With the minimal cost of an annual policy, it pays you back in the long run to safeguard your home. 

If you’re in the market for a trustworthy insurance agency that has provided its clients with generations of agents, don’t hesitate to call the experts at Albers Insurance Agency. They can assist you with any insurance product questions you may have, as well as suggest the homeowners insurance policy that best suits your needs. Call them today at (513) 891-3304 or visit their website for more information.