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Well-Protected Homes: Why You Should Never Go without Home Insurance

Posted on: Friday, January 15th, 2016

When you get a home, you should make sure that you have adequate homeowners insurance. If you have a mortgage, your lender is going to require that you spend $500 to $1,000 to make sure that you can fix any damage that happens to the home. It will also provide you with financial protection in the event that anyone is injured while on your property.

Well-Protected Homes

Don’t Put Your Family or Your Business at Risk

If someone is hurt on your property and wins a judgment against you, the judgment could be worth thousands of dollars or more. In extreme cases, you may be forced to sell your home or other belongings to pay that amount. In the event that you have to file for bankruptcy, business assets as well as personal assets could be liquidated if you operate as a sole proprietor. In a Chapter 7 case, you are obligated to stop running your company.

You Never Know When Extreme Weather Will Hit

All it takes is one flash of lightning or one gust of wind to set your house on fire or to blow shingles off of your roof. This could result in thousands of dollars in remediation costs that need to take place soon after the damage occurs. If shingles or siding are left exposed to the elements, you could be in a situation where rot occurs and pests and mold start to overrun your home.

What Happens if a Burglary Takes Place?

If your home is broken into, your homeowners insurance policy may protect your valuables. This means that you can replace your laptop or expensive television at no cost to yourself. If you have a large jewelry collection or an expensive painting in your home that is stolen, it may be possible to replace it or reimburse you for however much it was valued at.

Going without insurance can save you $500 a year for as long as you own your home. However, one repair job or burglary could cost you thousands in an instant. Therefore, it is in your best interest to have insurance for your home. It only takes a few minutes to find and purchase your home insurance policy right now with help from agents like those from Allied Insurance Managers, Inc.

Sources:
5 Lesser-Known Benefits of Homeowners Insurance, Zing!
What Are the Benefits of Having Homeowner’s Insurance?, eHow

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Jayson Bass

Jayson has a proven track record of dedication and commitment to excellence. He takes great pride in helping business owners develop a strategic plan to help them achieve their risk management objectives and reduce their overall cost of insurance.
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