As the proud new owner of a home, you likely have lots of things on your plate, from transferring utilities to changing your address with the post office. However, one thing you should get done right away is secure homeowner’s insurance. This is a type of personal insurance coverage that protects your property against damage from fire, smoke, storms, vandalism, theft and other damage. Typically required by your mortgage lender, this type of policy protects your finances from the burden of rebuilding and repurchasing property after your home suffers expensive damage.
Check out the following benefits of having homeowner’s insurance:
As a homeowner, you know too many things can go wrong. A storm could send a huge tree into your living room, or a burglar may steal everything of value from you. Without insurance, how would you pay for those damages? Knowing you have financial protection in the form of homeowner’s insurance gives you peace of mind. Not only do you get coverage for things that are out of your control, but you also can recover financially from possibly devastating loss. Even when you factor in the price of homeowner’s policy, it’s still well worth it in the end to avoid the kind of financial burden that few families are prepared to shoulder, says The Nest. You’ll get payment for damages that you can use to rebuild and get back to normal within a reasonable amount of time.
When you receive an insurance payout after damage, you are free to navigate through the rebuilding process quickly — much more so than if you had to scrape together the cash on your own. In fact, if you didn’t have the spare cash lying around, you may opt against fixing the damage at all, which means your property value will take a hit. The peace of mind that comes with homeowner’s insurance lessens your stress level and allows you to get back on your feet with a clear head and mission.
From natural disaster and fire to theft and vandalism, your policy likely covers a wide range of damage to covered property, which can include both the interior and exterior of a house, along with property that is located inside or outside the home. You may also be covered for personal liability for injuries that befall guests while on your property.
You also have the option of including extra provisions that cover you beyond the norm. Yes, your insurance premium will go up with these unique provisions; however, the added protection they provide is well worth it in some cases. For example, you may want extra coverage if you have an expensive antique or art collection in your home, or family heirloom jewelry collection. Climate also comes into play, too. If you live in an above-average cold climate, you can even insure against freezing and thawing pipes.
Contact us at 903-266-1699 if you are in need of homeowner’s insurance. We offer the following coverages:
Based in Tyler, TX, Bosworth & Associates offers a full suite of insurance packages, including personal, commercial and business insurance products. Trust the company that offers you customized solutions to your insurance needs!