Your home is likely your most important—and most expensive—asset. As such, it's important you protect it against financial losses with high-quality homeowners insurance. Unfortunately, to avoid the cost of premiums, many homeowners put off buying insurance until it is too late. The information below should convince you not to wait to buy coverage.

Your Lender Requires It

If you have an outstanding loan balance on your home mortgage, your lender almost certainly requires you to maintain coverage to protect their interests. If you do not have the minimum necessary homeowners insurance, your lender will simply purchase coverage for you and tack the cost onto your loan balance. Worse, the coverage they buy may not cover your interests at all. Thus, if you experience a total loss due to fire or storm, the bank will get their money back, but you will see no benefit.

You Might Not Be Able to Buy It When Needed

During tropical storms and hurricanes, many homeowners try to purchase insurance at the last minute, only to discover that insurers won't cover them. Typically, when a storm is within 100 miles of a home, insurance companies are decidedly reluctant to issue a policy. Under such circumstances, if your property experiences wind, debris, or water damage, you would be responsible for 100% of the cost of repairs. Only after the storm has passed will you be able to buy the coverage you need—and should have purchased earlier.

For expert assistance designing a homeowners insurance policy, contact BestRate Auto Insurance in Statesboro and Vidalia, GA. They can help clients in both English and Spanish. They have served customers in and around Bulloch County for more than a decade and also specialize in boat, mobile home, motorcycle, and car insurance. Visit their website to view location details and office hours, or call (912) 489-5942 for Statesboro or (912) 403-3250 for Vidalia to request a quote.