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Why You Need Homeowner’s Insurance

Why You Need Homeowner’s Insurance?

If you’ve invested in a house, you should also invest in some homeowner’s insurance. Wondering why homeowner’s insurance is important? It can do a lot for your home and for you. For starters, you may need to get insurance to be approved for your mortgage. Insurance can cover more than just the physical property of your home, giving the peace of mind that your property is all covered. 

It May Be Required for Your Mortgage 

If, like most people, you require a loan to purchase a home—you’ll likely be required to get homeowner’s insurance. Most mortgage lenders want to know that their investment is protected and adequately insured. Before funding or even refinancing a mortgage, you will likely need homeowner’s insurance. 

Covers More Than the Physical Structure of Your House

A homeowner’s policy insures your house should something like a fire, flood, or other damage happen—but in many cases, it covers more than just the physical property. It could also cover other structures on your property, such as a shed or pool house. If these structures are damaged, insurance may cover repairs or replacement costs. It could also cover fences or other structures. 

It could also cover you if someone visiting your home and is injured. In this case, you may be held legally liable for medical bills. In similar cases, you or a family member may be found liable in some instances for accidental damage or injury. Liability coverage may be part of your homeowner’s insurance—this may help pay for any related medical bills, legal bills, or costs of damages. 

If you and your family are displaced after your home has been damaged, homeowner’s insurance may cover the costs of temporary living—like hotel bills. In some cases, your home may be damaged by a fire, flood, or something else—when this occurs, it can be costly to stay somewhere long term. Homeowner’s insurance can be a big help in this case. 

Peace of Mind 

Ultimately, insurance gives you some peace of mind. Rest easy knowing that you have protection should anything happen. If your house is damaged in any way—you’ll be taken care of. A house is a significant investment and should be protected—especially if your house is mostly paid off. It may be a large chunk of your savings—don’t let that go to waste. If something were to happen to your home and you were not insured, you could face financial ruin or at the very least, some extreme financial difficulties. Rest easy with the peace of mind that your home, your property, your personal belongings, your family, and you are fully covered.

For more information on homeowner’s insurance and the best options for you, contact the experts at Bear River Insurance. We offer many options for homeowners. Find the coverage that works best for your situation. Give us a call today!


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