Home Insurance

Answer

Insurance is your protection against the uncertainties of day-to-day living. For most people, their home is their single most valuable possession and their biggest investment.

If you were to suddenly lose your home due to fire or a tornado or have the contents damaged or stolen, like most of us, you probably could not afford to replace everything all at once. And if somebody sued you for an injury or damage caused by you or your property, the cost of defending that suit could run into thousands of dollars in legal fees - and are regardless of the outcome of the suit.

All of these situations are covered by the homeowners insurance policy. While it may be unpleasant to think about fire, theft, and other uncertainties of life, let's face it, they are there and things happen.

Yet another reason you need to carry homeowners insurance is that mortgage lenders require it. No mortgage company will lend the large amounts of money needed to finance homes at today's prices without requiring an insurance policy to protect that investment.