Congratulations on the purchase of your new home!
The journey to acquiring this most expensive purchase was a challenging one, but you managed to power through. You must protect this precious asset with quality home insurance. Remember, getting insurance is one of the parts of being a responsible homeowner. It might require additional expenses, but the peace of mind that you will get by insuring your home is priceless.
There are several insurance providers in the country today, such as home insurance from Allstate. Home insurance is a type of property insurance that covers damages and losses to a house and its assets. It also includes liability insurance against accidents that occur in the home or on the property.
These insurance companies make sure that their clients receive the best service with helpful features such as money-saving discounts, innovative online tools, and the availability of local agents.
If you are worried that the insurance policy will take a big chunk from your budget, there are ways to save money on insurance without compromising your family’s needs.
Home insurance is a non-negotiable aspect of homeownership because of the following benefits.
- Protection from Fire Damage
In the unfortunate event of a fire, all damages will be covered by home insurance. Coverage will include the house, all belongings, and other structures within the property like a garage or shed. The insurance will also cover damages caused by smoke.
Besides, the insurance policy will help reimburse lodging expenses of the family if they need to live someplace else during home repairs.
- Protection from Vandalism or Theft
According to the FBI, 19.8 % of property crimes are home burglaries. This translates into almost 1.5 million burglaries every day. You can install safety precautions, but break-ins may still happen.
Your policy will cover any damage incurred during a break-in such as broken windows or doors. It will also include almost all stolen items. Bear in mind, though, that the insurance policy has limited coverage for some personal property. You should explore the option of purchasing additional coverage for items like expensive jewelry.
- Protection from Water Damage
Imagine coming home to a soaking carpet and drywall due to a burst pipe. It is such a frustrating experience, not to mention expensive to repair. A home insurance policy will include water damage as long as the cause is sudden and accidental.
Take note that water damage from flooding or water back-up from sewers or drains requires a separate flood insurance policy.
- Protection from Vandalism and Mischief
If someone has taken a prank too far and deliberately vandalized your home, insurance will take away a considerable part of your annoyance and anger by covering the damages. It will also cover the despicable act of maliciously destroying your property.
- Protection from Liabilities
Suppose a visitor accidentally trips on a rake on your lawn and injures his ankle. The liability coverage of your home insurance policy will help defray legal expenses and the victim’s medical bills.
Purchasing home insurance is another big decision you need to make after buying your home. You must arm yourself with vital information before taking the leap. It may take some effort, but it will all be worth it, knowing that you will always have a home to love and cherish.