You’re returning home from a vacation in the sun.  You’ve had time away from the freezing weather and you’re grateful. You get to your front door and open it but something doesn’t seem right.  There’s the sound of rushing water.  You look around and step into your kitchen where you see water coming from the ceiling, creating a falling cascade.  The winter cold caused a pipe to burst and your house is seriously damaged, along with your possessions.

Now is the moment that you are really relieved that you have homeowner’s insurance. Homeowners insurance is a type of coverage that covers both damage to your property and to your possessions.  It also covers the cost of temporary living conditions if you are unable to stay in your home after a disaster.   Finally, it covers your liability or legal responsibility for injuries and property damage cause by you or another person.  This also includes damage caused by a pet.

While many people are required to have Homeowners Insurance through their bank mortgage program, many forgo it.  Some people decline because they have paid off their home while others have purchased their home in cash.  Even if you are comfortable replacing the cost of a home and your possessions, consider the reasons to have the insurance.

  • Liability.   If a visitor slips on your sidewalk, an uninsured window washer stumbles from a ladder,  or if your pet bites or injures a person, a Homeowners liability coverage will step in and cover the cost of damages.  It will also cover,  if necessary, the mounting legal defense. It’s easy to calculate the cost to rebuild a home and your possession, but who can put a number of unforeseen accidents and  consequences?
  • Living Expenses.  Your home is destroyed and you’ve been told it will take a  year to rebuild it.  Where are you going to live in the meantime?  You’ll need a place to live and homeowners insurance will help cover those expenses.
  • Possessions.   Like we mentioned before, homeowners insurance will protect your possessions in the event of  damage or disaster, but what about burglary?  Homeowners insurance also protects you against burglary.  If someone breaks into your home, your possessions will be replaced.

With so many valid reasons to have homeowners insurance, it is hard to come up with a reason tonot have it.  Our home is the cornerstone of our lives, we want to keep it safe and have our own peace of mind.

Berkshire Hathaway HomeServices/John M. Brabham Real Estate knows great homes.  We want you to know more than the average buyer.  Call us at (803) 775-1201