Without a doubt, buying a home may be the single largest (and probably the most emotionally invested) purchase you will ever make in your life. Yet, it is also vulnerable to unforeseen circumstances, whether that be a natural disaster, theft, or even someone being accidentally injured in your home. Here are 5 reasons why you should invest in home insurance.
1. In Case of Natural Disasters
Let’s face it, the idea of a fire, an earthquake, high winds, or even a storm hitting your house is a scary thought to say the least, especially in light of the fact that you can never truly predict when and how these disasters might occur! With home insurance, you will have financial protection from catastrophic loss.
2. Possibility of Theft
This is something that people tend to take for granted at times. You hear stories about burglaries and house break-ins on the news, but you never for a minute consider the possibility of that happening to you. Of course, this is an understandable reaction by most, but it isn’t one that will protect you in that possible event. Whether we’re talking property damage or theft of valuable items, home insurance will protect you from that loss.
3. Liability Insurance
Unfortunately, natural disasters and theft aren’t the only things to worry about at times. In reality, it’s very possible that as a homeowner, you might find yourself in the less-than-ideal situation of someone being injured on your property. Home insurance will cover those medical bills along with any other related damages for you.
4. For your Mortgage
In most cases, your mortgage lender will not grant you with a home loan unless you have home insurance. This should come as no surprise since, logically speaking, the lender will want to protect the investment just as much as the investors themselves.
5. The Luxury of Peace of Mind
There are few things in this world that give you the satisfying feeling of knowing you can carry on with your life with absolute peace of mind. Even though home insurance might seem like an extraneous expense at the time, there’s really no telling what could crop up in the not-so-distant future. Naturally, you can go with the option of hoping that a natural disaster won’t strike your home, but knowing that your home will be protected in case of a crisis is well worth the expense, or should we say, ‘investment’.