For most of us, our home is the single largest investment we will make. Insurance can help you with your peace of mind knowing that in the event of a covered loss, your damaged home will be rebuilt and your destroyed belongings will be replaced.
Types of Coverage for Homeowners, Condo Owners, or Renters
Dwellings and Other Structures
For homeowners, this provides coverage for damage to your home and other structures on your property such as a shed or detached garage.
Dwelling Improvements, Alterations, and Additions
For condo owners, this provides coverage for condominium owners' improvements to the unit, which is not covered under the condo association's policy.
In the event someone is injured on your property or you damage property that belongs to others, you could be held legally liable for the injury or damage.
This provides coverage for your household contents and personal belongings. You may think your furniture, clothing, TV, and computers are not worth much, but those items add up quickly when you need to replace them.
Without insurance, you will be responsible for protecting your property, personal belongings and liability exposure.
For example, if your home burns down, you will need to rebuild your home and replace all your damaged belongings with only the funds you have on hand or can obtain. Do you typically have $500,000 easily available in case something like this happens?
Something else to consider, if someone is injured on your property, they may sue you for injuries and damages they sustain which may be well beyond $1,000,000. Without insurance, you may have to liquidate your assets and even lose a portion of your wages to settle the lawsuit.