When you buy homeowners insurance, you’re paying for peace of mind, because you’re hoping to never need it. Allstar Insurance offers premium coverage at a reasonable price for their customers in Lincoln, NE. Below, they explain why every homeowner should have this type of insurance.
Why You Must Have Homeowners Insurance
1. Required by Your Lender
If you’re financing your home, homeowners insurance is one of the requirements set by your lender. If your home is damaged beyond repair, you’ll probably stop paying your mortgage. That would leave your lender with a property that can’t be sold and an unpaid mortgage. Generally, your lender will require your minimum coverage to be the amount of your mortgage.
2. Protects Your House From Loss
If there is damage to your home as a result of a storm, fire, or vandalism, your homeowners insurance will pay for the repairs after you meet your deductible. In the case of roof repairs, this can be expensive. If your house is damaged beyond repair or completely leveled, your insurance will pay your mortgage, which is better than making payments on a home you can’t live in.
3. Protects Your Belongings
Similar to renter’s insurance, homeowners insurance also protects your personal belongings. This includes furniture, appliances, clothing, and other items. Interestingly, your policy even protects your things when you’re not at home. However, you must select extra coverage to insure valuable jewelry, paintings, or heirlooms.
4. Reduces Your Liability
If someone gets hurt on your property, they may file a lawsuit against you. This is true if you forgot to shovel snow, causing someone to slip on your driveway. This is even applicable if someone slipped on your front porch although you didn’t invite them onto your property. This liability insurance covers legal and medical bills, and it may even compensate the injured individual for lost wages.
Now that you understand the benefits of homeowners insurance, it’s time to select the right coverage. Give the agents at Allstar Insurance a call at (402) 477-0900, and let them help you select the protection you need. You can also visit the website to find out what other services they offer.