A Few Reasons Why You Need Home Insurance

When you move into a new home, you have so many expenses to face. Of course, you will have that monthly mortgage, which can take up a great deal of your monthly budget, but then you will also have taxes to pay. In addition, you may need new furnishing and you will need to buy items to take care of that home like lawn equipment.

With so many expenses weighing on you, you may be thinking that home insurance is simply an expense that you cannot manage right now. However, home insurance is not something that you can afford to skip. When you choose an insurance agency, you will find that the expense does not have to be out of your price range either. Why should you consider the policy a must? There are actually quite a few reasons to consider.

It May be Required

If you have a mortgage, then you will most likely be required by your lender to have a home insurance policy. Why is this? Lenders are taking a big risk when they loan you so much money for a home. If you default on that loan, then they could be out a hundred thousand dollars or more. If your home is damaged or destroyed, you may not have the funds to pay that loan, and this could lead to you defaulting on the mortgage. By having home insurance through a company like Corkhill Insurance, you will have the money to pay off that loan. This is why mortgage lenders do require that you have the insurance coverage.

It is Simply Smart

Even if you are not required to have home insurance, you should still consider it vital. It is just smart to have the policy. There are so many different things that could happen to your home. Although you would hope that nothing will happen, you must prepare yourself for the unexpected. Here are some of the things that your home insurance could cover.

  • Theft, burglary, or vandalism
  • Fire
  • Storm damage
  • Flooding
  • Mold

If you do not have the insurance coverage and then something happens to your home, just think of how much money you could end up spending just to get repairs. You should not consider home insurance as an option. You should consider it a smart choice, and a choice that you just cannot avoid.

What is Covered?

When you choose to have home insurance, you must be wondering what it will cover. There are two main things that will be covered in the policy: the structure of the home itself and then the belongings inside. If you have belongings of extra value like jewelry or electronics, then you will need to ask about extended coverage. Companies like Corkhill Insurance will offer extra coverage in home insurance policies to protect valuables, which can range from collectables to expensive jewelry.

If something happens to your home, then you could get compensation to cover the repairs to the home itself and to replace any belongings that were damaged or stolen. This will allow you to get back to your life so much quicker than if you had to pay for all those repairs and replacements yourself.

As you can see, you need to contact a company like Corkhill Insurance. This way, you can get a home insurance policy that will accurately cover your home and all of your belongings. It could be that this policy is required by your mortgage lender. Even if it is not, though, you should still consider it a must. Otherwise, you could lose a great deal of money should something happen to your home.

Scott Corkhill is the owner and insurance agent for Corkhill Insurance Agency, an Independent Insurance Provider in Orlando, Florida. To learn more about Orlando home insurance policies, visit Corkhill Insurance.

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