3 Reasons Your Home Needs Home Insurance

If you have a mortgage no bank will allow you to go without home insurance but, regardless, I can’t imagine forgoing it as disasters (both big and small) happen all the darn time. We got lucky this summer and only suffered a little bit of bent siding when we lost multiple trees over the course of the year.

(This is a contributed post, for more information about my compensation please read my disclosure policy)

You can invest so much money in your home to make it better and more enjoyable. Whether this is a master bedroom makeover, an extension, or even a garden patio – the opportunities are endless. Most of us wouldn’t think twice about investing in home improvements, yet how do you feel about home insurance?

Normally, with any kind of insurance that isn’t mandatory, you debate whether or not you need it. It’s yet another home expense; should you even bother?! Yes, you absolutely should. Home insurance is optional, but it shouldn’t be! It’s extremely important, and here are three reasons your home needs to be insured:

#1 Protect your valuable investments

Remember all those investments we were talking about? You know, the home improvements, etc. Without home insurance, these investments are unprotected. What if you get a brand-new bathroom and then there’s an issue that causes a pipe to burst? Home insurance protects your property against a range of problems, meaning you can claim compensation to help you pay for any repairs. It ensures that you don’t put lots of money into improving your home, only to waste cash on multiple repairs.

#2 Protect your home against outside threats

Plenty of things can happen inside your home that damage it and lead to costly repairs. But, there are more things that happen outside your property and cause even more damage. We’re talking about the following:

• Wind
• Hail
• Snow
• Floods
• Vandalism
• Burglary

All of these issues are out of your control, yet they can lead to massive problems in your home. Bad weather can damage your property and put you in a lot of debt as you try to repair the issues.

The same goes for instances when your home is burgled or vandalized – you’re left with all sorts of issues that need to be fixed, yet they’re super expensive. Home insurance protects you against all of these outside threats, so you don’t have to pay for any fixes.

Be warned, some insurance companies might try to deny your right to compensation in bad weather events as they may play it off as an “act of God.” Don’t worry, you can find a disaster recovery lawyer to help fight your case in situations like this. Often, the threat of legal action is enough to scare your insurance provider into waking up!

#3 Protect your personal belongings

A lot of people don’t realize this, but you can get home insurance that protects everything inside your property too. If you don’t own your home, it’s essential to get this insurance as your landlord isn’t responsible for people breaking into your property and taking your stuff. It’s a type of coverage everyone needs as you get financial compensation if anything is stolen, often meaning you can replace the items without any issues.

The bottom line is that your house is extremely important. So, you ought to give it the protection it deserves. Home insurance is one of those things you don’t appreciate until something happens. If you don’t have it, you’re treading a very precarious line.

(This is a contributed post, for more information about my compensation please read my disclosure policy)