Darin and Christina Cunningham | Re/Max Elite
278 Franklin Road Suite 190 | Brentwood, TN 37027
Office: 615.661.4400 | Fax: 615.661.4115
Christina: 615.394.4168 | Darin: 615.456.4086

Homeowners Insurance and You

Homeowners insurance is property insurance that covers damages and losses to a person’s house and the assets in the home. Homeowner’s insurance provides liability coverage against accidents on the property or in the home. Some people cringe at hearing they are supposed to pay homeowner’s insurance. It feels like paying for an intangible product every month, and most people feel like its pouring water down the drain. This, however, changes when an accident happens and then people realize the importance of having the insurance.

Homeowners insurance protects your home

Your home is most likely the most valuable possession you own. It’s a symbol of pride and joy for the family. In case of an accident, the insurance will cover the repair costs and replacement costs if need be. Homeowners insurance keeps your property safe and gives you more options in case something terrible happens. The insurance also covers the belongings or assets in your home but only if you have the right insurance to replace everything. Don’t get less coverage than you need.

It’s a requirement by your lender

Most, if not all, lenders have conditions that require you to have enough homeowner’s insurance. These lenders have money on the line too, and they are just being safe. In case your house is severely damaged in an accident and you lack enough insurance to cover it and you have a mortgage, you are most likely going to fall behind on your mortgage payments. The lenders are only protecting the investment which is collateral to the loan they gave you.

It Provides liability coverage

It’s no one’s intention for anyone to get hurt on their property, but accidents sometimes happen. The insurance covers injuries sustained by other people on your property as well.  Your dog can bite the mail carrier, or your friend can slip and get hurt or break a bone. You don’t have to worry about these situations as much if you have homeowner’s insurance. Protect yourself with the coverage afforded by the insurance.

It Covers additional living expenses

In case there is an accident and you cannot stay in your home due to the damages, the insurance can pay for temporary living costs. You and the family have to have safe living accommodations while your home is renovated and the insurance can pay toward that until your home is repaired and deemed safe for living.

It Gives you and your family peace of mind

Knowing your family and your property are protected gives you great peace of mind. No one can predict when an accident might happen or when a disaster will strike, and that is what makes insurance necessary. You don’t have to spend sleepless nights wondering what might happens if your property is damaged or destroyed.

Talk with your insurance agent and make sure you understand what your current homeowners insurance coverage  is to ensure your property and your family are protected. You may need something beyond basic coverage. For instance, in California, you can add some earthquake coverage for affordable prices to protect yourself from that type of damage which is not generally covered under regular home insurance.

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