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Your home is more than simply a roof over your head. It’s probably your most valuable investment, and without a home insurance policy, you most likely can’t afford to replace it if disaster strikes. Many homeowners don’t understand the basics of these types of policies which is why the insurance agents at Bruce Richardson, a State Farm® Agent located in Mooresville, IN, offers a guide to home insurance and what it covers.

What Is Home Insurance?

Home insurance protects the physical structure of your home and anything inside if it is damaged or destroyed. It also provides liability coverage, keeping you safe from lawsuits and medical bills if a person is hurt on your property.

home-insuranceIf your home is damaged due to a covered peril, such as fire, wind, lightning, theft, or vandalism, your home insurance covers the repair or replacement costs. It does not usually cover damages resulting from floods or backed-up sewers, earthquakes, or issues due to insects or rodents.

Why Do I Need to Purchase a Policy?

Although home insurance is not required by law, most lenders require you to purchase a policy to get a mortgage from a bank. Even if you no longer have a mortgage, it is a good idea to have this type of insurance to safeguard your finances and avoid losing the money you have invested in your home. The peace of mind knowing that your home and belongings are covered and that you’re protected with liability coverage is invaluable. Call your insurance agency to learn about the many policy options available.

State Farm Agent Bruce Richardson offers a variety of home insurance policies that protect your investment and also fit your needs and budget. Give him a call at (317) 831-3500 to receive an insurance quote. You can also visit him on Facebook to learn more about his insurance agency.

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