Owning a home is a very big financial move. So insuring your financial investment would make sense. However there are many more reasons as to why you want to invest in homeowners insurance through a well respected and professional insurance company such as Archibald Insurance. Here are the top five reasons as to why you need to have homeowners insurance on your new home:
1. It is required. If you have taken out a loan or a mortgage on your home, then it is going to be required to have it insured. It is very important to the bank that your home is insured in the case of an accident, fire or theft on the property. You are also ensuring that your own liabilities are covered. You would want to have your house protected if you are still paying on it in the case of a fire or another natural disaster that destroyed the property. For example, if you owned a home in 2005 in New Orleans and did not have it insured, then you would be at a great loss when Hurricane Katrina struck the city. But if you did have it insured and your mortgage was not paid off then you would be protected through your homeowners insurance (as long as it covered flood and hurricane damage).
2. The case of a natural disaster. The example listed above can also pertain to this reason for needing homeowners insurance. If a hurricane were to strike, then you would want to make sure your home was insured in order to protect it. Also, if you are in an earthquake zone and an earthquake struck, then you would want to make sure that you have homeowners insurance. Other examples include if a tornado knocked a tree into your house, then your homeowners insurance would protect you from losing money on the damage done to your home. You want to make sure that everything is covered under your homeowners insurance. For example, if you are located in Florida or own a home in Florida, then you would need to have separate flood insurance if you live in a flood zone.
3. Someone gets injured on your property. Believe it or not, people can sue for anything nowadays. If someone were to get injured on your property, then they can sue you for damages done. However, homeowners insurance can protect you from losing money in the case of an accident on your property.
4. Protect against theft. If someone were to break into your home and steal your belongings, then having homeowners insurance will protect you against financial loss.
5. Protect your financial investment. Finally, having homeowners insurance will also protect your mortgage and financial investment into your home. It is very important to be insured so in the case of damage to your home, that you will not lose financially.
As you can see, these were just five of the many reasons as to why it is vital to have homeowners insurance in today’s market. So, if you do not already have it, then find a trustworthy insurance company to insure your home today!