When you were a kid, your parents probably told you what to do in case there was a fire or a tornado. Look for a window, meet at the mailbox, hide in the closet. You couldn’t stop the bad things from happening, but you felt better knowing what to do.
Now you have to ask yourself: Will you know what to do after a disaster? Homeowner’s insurance can give you that peace of mind you had as a kid. You won’t have to wonder if you can afford to rebuild or replace your possessions. You’ll know exactly what to do.
Do I really need homeowner’s insurance?
If you have a mortgage on your home, the short answer is YES. Most lenders will require that you have homeowner’s insurance for as long as you owe them money. The truth is, even if you’ve paid off your entire mortgage and you own your home free and clear, homeowner’s insurance is still important.
Why is homeowner’s insurance important?
Homeowner’s insurance protects your wallet in case of unforeseeable disasters like fires, tornadoes, and theft. It can even help cover legal costs if someone trips over an extension cord in your living room, breaks a leg, and decides to sue you.
Without homeowner’s insurance, if a tornado rips through Springfield or a fire ravages your neighborhood, you could lose your house and everything inside that made it a home. Most of us can’t afford to rebuild our houses from the ground up and replace all our belongings. If the thought of trying to recover from a natural disaster seems overwhelming, set up an appointment with an Adkins Insurance expert to talk about getting a homeowner’s insurance policy.
What does homeowner’s insurance cover?
Most homeowner’s insurance policies will cover:
- Natural disasters like tornadoes, hurricanes, and fires
- Theft and vandalism
- Liability if someone is injured on your property
However, most policies don’t cover flooding, earthquakes, or faulty systems like wiring or plumbing. They also won’t cover damage to a home office if you run a business from home. For these you need separate policies, like a Flood Insurance policy, a Home Warranty, or Business Insurance.
How much does homeowner’s insurance cost?
The cost of your homeowner’s insurance could depend on a lot of factors:
- The style of your home
- The deductible you want to pay
- Whether you want to be reimbursed for the replacement cost of your belongings or their actual cost
- How much it would cost to repair or rebuild your home
The only sure thing about the cost of homeowner’s insurance is that it is small in comparison to the cost of rebuilding after a disaster.
Contact Adkins Insurance to set up an appointment, or fill out the form on this page to get a homeowner’s insurance quote.