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Home Insurance 101
Do I really need insurance
for my home?
Insurance is your protection against the uncertainties of day-to-day living. For most people, their home is their single most valuable possession - and their biggest investment. Homeowners insurance protects your investment as well as you, the members of your family and your household possessions.
reason you need to carry homeowners insurance is that mortgage lenders
require it. No mortgage company will lend the large amounts of money needed
to finance homes at today's prices without requiring an insurance policy
to protect that investment.
Homeowners Insurance Coverage:
If you were to suddenly lose your home due to fire or a tornado or have the contents damaged or stolen, like most of us, you probably could not afford to replace everything all at once. And if somebody sued you for an injury or damage caused by you, the cost of defending that suit could run into thousands of dollars in legal fees - and are regardless of the outcome of the suit.
All of these situations are covered by the homeowners package policy. While it may be unpleasant to think about fire, theft, and other "uncertainties of life," let's face it, they are there and things happen.
Your homeowners insurance is important; it protects what is probably your greatest asset. The following coverage definitions should help you understand your homeowners policy--but be sure to consult your insurance company representative to assure that you have the right coverage for your needs.
Other Structures Coverage:
Personal Property Coverage:
Loss of Use:
Homeowners policies have many other optional features available to you depending on your individual needs. These include earthquake and scheduled personal property coverage.
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