Homeownership is a major investment, and just like your health and car, your home needs protection. Home insurance provides financial security against unexpected events, covering costly repairs or replacements when disaster strikes.
What Is Home Insurance?
Home insurance is a type of policy that protects your home and personal property from damage or theft. It also offers liability coverage in case someone is injured on your property. While coverage can vary depending on the policy, most home insurance plans cover damage from common perils such as fire, storms, vandalism, and theft.
Why Do You Need Home Insurance?
Home insurance is essential because it:Protects your home from damage due to disasters or accidents.Covers personal property like furniture and electronics.Provides liability coverage for injuries on your property.May be required by lenders to secure your mortgage.
What Does Home Insurance Cover?
Home insurance typically covers:Dwelling: Your home and attached structures (e.g., garage, deck).Personal Property: Belongings inside your home.Liability: Protection against injury or damage lawsuits.Additional Living Expenses: Costs for temporary housing if your home is uninhabitable.