5 Important Reasons Why You Should Purchase Home Insurance

​One of the most significant investments you're going to make in your lifetime is your home. The thing is that it will be vulnerable to a lot of risks from vandalisms to storms and fires. However, with a home insurance policy in place, you can safeguard your home from unexpected financial risks. Here are the five most compelling reasons why you should buy home insurance.

You Need It For Your Mortgage Lender
If you’re in the process of financing your house, your mortgage lender will require you to have homeowners insurance. In fact, your mortgage amount will determine how much your homeowner’s insurance coverage should be at the minimum. If you fail to do this, your mortgage lender will add the payments to your existing mortgage tab every month.

You Can Protect Yourself From Damage Costs
Home insurance is the most important protection you can have against damage caused by fire, vandalism, or natural disasters. Your home insurance policy will pay for the damage no matter how small or large its extent is. Remember to get a policy that pays on a replacement cost basis and not on the actual cash value. 

You Can Protect Your Personal Belongings
If someone steals or destroys your things, your home insurance policy will reimburse you for how much your property costs. The policy will provide coverage for your property wherever your things are. Whether your property is in the storage, at home, in your car, or even at school, your home insurance policy will handle the costs of the lost property. 

Your Liability Gets Protection
Your home insurance protects you from any liability caused by lawsuits. These lawsuits arise from injuries that happened on your property. Your home insurance will protect you from these lawsuits by paying the costs of legal defense as well as the damages. Liability can also extend to some accidents that happen when you’re away from home. The policy also covers the lost salary and wages you miss when one can’t work because of an injury.

It Can Provide Temporary Housing
In case you can't stay in your home after a fire or natural disaster, your home insurance policy will provide you with temporary living costs. Your policy includes coverage for additional living expenses. These costs may consist of hotel rentals, food, and laundry.

Some Final Words
Home insurance will take into account several factors from location to the age of the house to the value of all your stuff in it. Also, the breed of dog you keep may affect your policy rates. Trampolines or pools may also increase your premiums. In any case, though, it's best to buy a home insurance policy. This should protect your property and yourself from loss.

At Cornerstone Insurance Agency, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (888) 661-8831 or Click Here to request a free quote.