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6 reasons you should have house insurance

Nov 06, 2015

If you own a home, then there's really no good reason to go without house insurance. A house is possibly the most important investment you'll ever make, so it's crucial to protect it for both your sake and your family's.

Here are the top reasons to register for home insurance today:

Equity protection: Homeowners' insurance protects the value of your house, so if something happens you won't lose your entire investment.

Interim housing: Should an accident occur that requires you to rebuild the structure of your home, homeowners' insurance can help to provide you with temporary housing so you have a place to live while reconstruction or repairs take place.

Mortgage: The majority of banks require applicants to acquire homeowners' insurance as part of the mortgage agreement. This is because the home acts as collateral on the loan, and the bank wants to insure that its property is protected.

Natural disasters: Depending on where you live, your home could be at risk of destruction by natural disasters. Make sure your policy covers any accident that might occur in your area. For example, if you live in a location of the country that is prone to earthquakes, then you may need to make plans for extra coverage.

Rebuilding of the structure: In the case that your home is destroyed, your homeowners' policy will help you with the costs of rebuilding.

Replacement of belongings: If your home is destroyed or if someone breaks in and steals all your belongings, it's crucial to have home insurance to help you replace what you have lost. Few families could afford to buy all new items, from clothes to electronics.

If you don't yet have homeowners' insurance, then now is definitely the time to invest. Our professional insurance brokers are ready to guide you through the process. Click here to receive a quote.