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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.
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 or your property, 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.
Yet another 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
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