It is a big investment to buy a home so losing it due to a disaster will be terrible loss. Don’t think of purchasing home insurance as extra money that you may avoid spending; it will give you peace of mind. You may also think that the disaster will not happen; the thing about disasters that they are not predictable. Let’s find out the top reasons why you should consider buying home insurance.

1. Protection against lawsuits:
Let’s imagine a situation. Your neighbor’s kids are playing with your kids in your garden. One of them falls down and is hurt badly. The father of the kid does not like your family so he decides to file a lawsuit against you and your house. Here comes the role of home insurance. The insurance covers these kinds of accidents. The insurance company will pay to treat the injured, will pay to fix any damages happened in your property and of course will pay if the injured wanted to file a lawsuit against you. Of course we are sorry that someone got hurt in your property but we don’t want to pay a lot of money too.

2.Protection against Disasters:

Hurricanes, fires, earthquakes and many other forms of disasters that may destroy your home or at least damage it badly. When you buy home insurance, it will limit the amount of money that you will pay to fix everything. You need to make sure that the insurance company will pay enough money to cover all the damages. Some companies don’t pay enough.
Your home should be the same as before the disaster. If you have an air conditioner in every room of the house, the company should pay to install an air conditioner in every room. It is your right so make sure that it will be included in the insurance policy.

3. Protection against theft:
The home insurance policy must include a separate point in cases of theft. If one of your precious things got stolen, you may use the money to replace it. I know that valuable things are irreplaceable but at least the money can be used instead of losing everything.

The insurance policies should include a point to save your belongings in cases of theft or disasters. There are two types of coverage; Actual cash value and replacement cost. Actual cash value will make pay you the amount of money of the damaged property that you and the insurance agent will agree upon while the replacement cost will allow you to replace your property even its price is higher than when you bought it but of course the replacement policy is higher than the actual value one.

4. Your mortgage lender needs home insurance:

Most mortgage lenders like banks will ask for an insurance policy to protect your and their investment. But what if you don’t have one? Well, mortgage will provide you with a forced coverage policy. But forced coverage policies have a lot of disadvantages; they are extremely expensive and will only guarantee the rights of the lenders.

The reasons are convincing but the most important reason to buy insurance is the peace of mind. By buying home insurance, you will keep your family, home and money safe.

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