Benefits of Homeowners Insurance

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Your home is a big investment, one of, if not the biggest, investment you’ll ever make.

Houses are vulnerable to al kinds of catastrophes. Depending on where you live, you might be at risk for natural disasters such as hurricanes, earthquakes, bushfires, tornados, earthquakes, floods and tsunamis, but matter where you call home, your house is always susceptible to human error and malfeasance. Carrying an insurance policy on your home guarantees that you will have the access to the funds to repair or rebuild if catastrophe strikes. Your insurance policy may also cover accommodation expenses if your home becomes uninhabitable.

Lawsuit Protection:
Insurance also covers costs incurred by injury to a visitor or their property sustained on the homeowner’s property. Basic homeowner’s policies come with $100,000 liability coverage. If your home has especially risky features like a swimming pool or trampoline, expect to pay more for your coverage.

Protection for the Contents of you Home:
In addition to covering the physical structure of your home, homeowner’s insurance protects it’s contents. Your insurance policy will cover the cost of replacing household items like furniture, appliances, electronics and clothing. Irreplaceable or extremely valuable items like antiques, art or pieces whose value is sentimental will usually not be covered by your policy. Standard insurance policies may also not cover you in the event of theft, if yours doesn’t, you might consider adding a rider that will extend to items stolen from your home.

For most policies, it’s standard that 50% of the total value of the policy covers belongings in the home. Individual policyholders can choose to increase that amount by paying more in premiums.

Access to a Mortgage:
Many mortgage companies require homebuyers to purchase insurance before extending a line of credit.

Post Sponsored by TSC Direct, offering New York Auto Insurance and Homeowners Insurance

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