When you save up enough to put a down payment on a home, it’s worth a celebration. However, it’s also important to consider how you’ll protect that investment. Whether you’ve bought a cottage or a three-story estate, you’ll need homeowners insurance to safeguard your living space. Here are just some of the many advantages of this policy.

3 Reasons Why You Need Homeowners Insurance

1. You Need It for a Mortgage

If you have a car, you know that you can’t drive without acquiring car insurance—the state simply requires it. If you took out a home loan to afford your house, your mortgage lender will also require you to have homeowners insurance. Essentially, your lender wants to know that there’s an insurance policy ready to take care of the house they’re helping pay for should it be damaged or destroyed. They might even set the amount of homeowners insurance you need to purchase.

2. It Covers Your Possessions

If a wildfire were to rip through your neighborhood, your house wouldn’t be the only thing in harm’s way—what about all the precious belongings you keep inside it? From that flat-screen TV and vintage record player to the dining room table passed down from your grandmother, you’ll be glad to know that your homeowners insurance policy also covers the possessions under your roof. Plus, if you move any of those listed possessions—such as take your laptop on vacation or to a friend’s house—it’s still covered!

3. It Will Prevent You From Being Stranded

Whenever there is a situation where your homeowners insurance provider has to step in—such as a severe flood—it probably won’t be safe to keep your family and pets in your home. Luckily, your lender has already thought of a solution. If your home ever becomes uninhabitable, they will cover additional living expenses while the property is repaired. That includes everything from hotel stays to storage unit payments to laundry and Wi-Fi.

If you still don’t have homeowners insurance to provide you peace of mind, reach out to Barnes & Howell Insurance, Inc. of Gainesville, GA. Since 1995, they have been helping clients throughout the Atlanta Metro area find policies to fit their needs and lifestyles. They search through over 50 carriers to find auto, boat, renters, and homeowners insurance policies, so you can protect all your investments. For more information on their offerings, visit the website. You can also call (770) 718-0202 to arrange for an appointment.