When people buy a house, they typically envision all the great moments to come—whether that’s having a backyard barbecue or enjoying the holidays with family around the dining room table. But if you’re a prospective owner, it’s also important to think about the accidents that can happen and how you can shield yourself from the losses they cause. Fortunately, most of these risks can be covered with a dependable homeowners insurance policy. Here are five important ways this coverage can benefit you.

How Homeowners Insurance Protects You & Your Home

1. Replaces Lost Property  

Homeowners insurance doesn’t just cover the dwelling structure. It also covers most of the personal property you own and keep in the home, as long as it’s listed on the policy.

If these items are stolen or damaged by a covered peril, your insurance provider will pay you a fair replacement value. Personal property losses may also be covered for incidents that occur away from home—such as theft that happens during a vacation.

2. Protects Against Major Perils

Your policy will detail a list of major perils that are covered if they cause property damage to your home. The standard coverage will apply to damage caused by fires, storms, and hail. If you live in an area that is prone to less common perils, such as floods or earthquakes, ask your insurance agent if they offer coverage and if it’s recommended or required.

3. Extends Emergency Assistance

If a severe storm, fire, or another incident leaves your home uninhabitable, your insurance policy will provide resources to make sure you have access to what you need. It should also cover emergency living expenses while your property is in disrepair. These expenses can include hotel stays, medications, food, clothing, and other essential daily needs.

4. Provides Legal Resources

As a property owner, you’re responsible for the safety of those visiting your home. If a person is injured on your property, they could sue you for damages—even if the accident wasn’t your fault. Your policy will cover any associated legal fees to prevent you from incurring major losses and, if necessary, will disperse funds for applicable damages.

5. Gives Lenders Peace of Mind

When you buy a house with a mortgage, your lender will likely require you to have homeowners insurance until the balance is fully repaid. By maintaining your coverage from the start, you can rest assured that you’re meeting the insurance terms of your mortgage agreements.

Trust David R Johnson Insurance Agency Inc. to provide you and your family with home protection solutions. This team of agents is located in Beech Grove, IN, and provides State Farm® products. They will equip you with affordable homeowners insurance to fit your specific needs. To learn how this agency can help you save on everything from car insurance to term life policies, visit their website. For custom insurance quotes, call (317) 782-8858.