7 Comforting Reasons to Purchase House Insurance

Buying a house is a big commitment. You need to research the area you are going to live in, the school system, the community, the local shopping centers and much more. You need to look at different houses and research each house individually. You need to shop around and look for the best mortgage rate you can find. You want to protect your investment and give you and your family peace of mind. Here are seven comforting reasons to purchase house insurance.

  1. It covers your house and land: House insurance will pay for any costs of rebuilding due to damage. Damage from fire or other unforeseen disasters can cause mental and physical stress beyond repair. This is your home — it is where you live and your family lives. Most of us could not afford to pay off our mortgage and build a new home if it were destroyed. Knowing that you will have a home for your family if anything happens gives you peace of mind.
  2. It covers your personal belongings: If something happened to your home and your personal items were destroyed, you would be able to replace your furniture and other household things. You work hard for your money and the things you buy are like your rewards. From the small, expensive items like jewelry and laptops, to the large, very expensive items like your 56-inch flat screen television, you want to be able to replace them. Getting your life back to normal as soon as you can is extremely important.
  3. It protects you if someone is hurt on your property: For example, if someone falls down your stairs or slips on ice, it protects you from being sued for legal and medical bills. Let’s face it, we live in a litigation happy society. People deliberately look for situations to make a financial gain. Protect yourself from these situations. If someone is legitimately hurt on your property, you want to be able to help with the medical bills, if needed, and avoid being sued.
  4. It protects the equity in your home: As you put money into your home, you build up equity, and it is a large investment. Your house insurance will make sure you keep this equity if you needed to replace your house. You won’t have to start all over again building up this equity that took you so many years to accumulate.
  5. It protects against theft: Unfortunately, homes are broken into and burglarized every day. Homeowners insurance will pay for you to replace whatever was stolen and you don’t have to repurchase it out-of-pocket. It gives you a sense of peace over this invasion of your privacy and property.
  6. It protects against natural disasters: If an unexpected windstorm strikes your home, or if damage is caused because something breaks, like a waterline or a leaky appliance, your home insurance will pay for the repairs. Some natural disasters require separate insurance policies, like earthquake or landslides, but most cover problems in your home like water damage from a leaky pipe.
  7. Your bank requires it: Your lending institution will not give you a mortgage or allow you to refinance without it. The bank wants to protect its asset and the house is the collateral. This is for your protection; if anything happens to your home, you would still owe the loan, even if you didn’t have the home anymore.

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