From basement flooding to property break-ins, even when you try to safeguard against threats to your home, some things are beyond your control. If unforeseen situations arise, having homeowners insurance means you won’t have to drain the family bank account to remedy the problems. Below is a closer look at various ways homeowners insurance comes in handy. 

Why Is It Vital to Have Homeowners Insurance?

Pays for Property Repairs 

If a seasonal storm wiped out the roof, a leaning tree damaged house siding, or you’ve experience other property damage, homeowners insurance could cover the cost of repairs or rebuilds. Many policies cover the costs of repairing structural damage, with all or some of the expenses paid by the lender. This way, you won’t have to budget to restore the safety, value, and comfort of your space.    

Covers Cost of Replacing Belongings

Many homeowners insurance policies are designed to protect the structure of your house, as well as what’s inside of it. If a burst pipe should ruin interior drywall and area rugs or someone steals your belongings during a home invasion, the insurance plan will cover the cost of repairing and replacing the items in question. To determine how much coverage you need, make a list of big-ticket items, including furniture, heirlooms, and anything else too costly to replace out-of-pocket.   

You Won’t be Held Financially Responsible if Someone Gets Hurt

Although removing stumps from the lawn and remembering to shovel snow from walkways should reduce the likelihood of injury when people visit your property, accidents can still happen. If someone gets hurt in your house or outside of it, you could be held financially responsible for their medical bills. The liability section of a homeowners insurance policy will cover those costs, which could help avoid a dispute with the injured party.

If you need insurance coverage, reach out to PFS Insurance Group in Brooklyn, NY. The knowledgeable, independent insurance agents will walk you through options to find the right policy to keep your property protected and give you peace of mind. They will also introduce you to other insurance plans to help improve your financial stability.To learn more about homeowners insurance options available to residents in Brooklyn, Queens, Crown Heights, Flatbush, and East New York, call (718) 385-5300. You can also visit the insurance agency online to request a free quote.