If you are like most people, the most important asset that you own is your home. It is also the place that you lay your head down at night and the place where you spend time with your family. Because your home is so important, it is necessary that you protect it. The best way is to purchase a home insurance policy. There are several reasons why you need insurance when you purchase a home.
Hazard Insurance
Unfortunately, you cannot control everything that happens in your home. There are several things that can damage your home, including storm damage, fire, vandalism, and theft. These incidents can also damage your belonging inside the home. When you have home owner’s insurance, the insurance will cover to repair or replace the home and its belongings.
Liability
If someone is injured on your property, they can sue you for their medical bills, lost wages, and pain and suffering. This can be very expensive. If you have home owner’s insurance, you will have liability insurance. This will cover cost of the victim’s injuries, saving you a great deal of money.
Mortgage Requirement
If you take out a mortgage to purchase your home, the lender would consider your house the collateral for the loan. In order to protect their investment, the lender would require that you have homeowner’s insurance. This would cover any damages to home caused by storm damage, theft, fire damage, and vandalism.
When you purchase a home, the first thing that you should do is purchase a homeowner’s insurance policy. It is the best way to protect your home as well as your financial future. The professionals at Gray’s Safe & Secure Insurance can work with you to find a policy that meets your mortgage company’s requirements, and will keep your home safe.
