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Why Is it Important to Have Homeowners Insurance?

Homeowners Insurance 101

What is homeowners insurance? Homeowners insurance is a type of personal insurance that provides security against damages to your home caused by theft, fires, and other natural disasters. It also protects you from liability in the event that someone is hurt in your home. But is getting homeowners insurance truly worth it? Nickerson Insurance goes into more detail about why it is important to purchase a homeowners insurance policy. 

Most Lenders Require It

When you are in the process of purchasing a new home, there is a possibility that you will have to take out a mortgage. A mortgage is a loan that is used to finance a house. It is likely that the lender will require you to invest in homeowners insurance. But why? The lender is the financial owner of your home and they want to ensure that it is protected in the event of an unforeseen accident or disaster and that you are to repay the mortgage if damage is incurred. If you do not have to take out a mortgage, we still recommend investing in homeowners insurance. 

Security Against Damages

If disaster strikes, it’s imperative that you are prepared. A basic homeowners insurance policy typically covers the following perils: fire, lightning, wind, explosion, hail, theft, and vandalism. If your home home is damaged, destroyed, or broken into, homeowners insurance will protect you financially and cover any costs that are necessary. As one of your most valuable assets, it is highly recommended that you get the proper coverage. 

Protects From Liability 

Accidents tend to happen unexpectedly and the consequences can be detrimental. If someone becomes injured on your property, there is a possibility that they may sue. With homeowners insurance coverage, you are protected from liability.  

Peace of Mind

Being protected is better than no protection at all! You can experience peace of mind knowing that you are covered in the event that something goes wrong. You won’t suffer from financial losses and you will be able to recover from any damages. If an accident or disaster occurs, you will be able to contact the insurance agency and file a claim. Once your claim is filed, an adjuster will come to your home and assess the damages, and from there offer you a sum of money to fix the damage and settle the claim. 

Find the Homeowners Insurance Your Family Needs With Nickerson

Protect your home by purchasing homeowners insurance from Nickerson! There are different types of homeowners policies including HO-1, HO-2, HO-3, and HO-5. To better understand what each one entails, one of our knowledgeable coverage consultants will happily walk you through them and help you find the one that best suits your home and family. At Nickerson, we are also proud to offer additional coverage to protect against earthquakes and floods, which can both be valuable if you live in a high-risk area. To receive a free homeowners insurance quote, visit our website and fill out the form. Otherwise, call us to set up an appointment! We look forward to providing you with the best possible insurance and superior customer service.

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