Benefits of Homeowners Insurance
Homeowners' insurance insures your home and belongings should they be damaged, stolen or destroyed. It is recommended for every homeowner, and many financial institutions and mortgage lenders require homeowners to maintain coverage as a loan contract obligation.
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Structure
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Homeowners' insurance protects the structure of your home from damage because of fire, hail, lightning and explosions.
Belongings
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Your belongings are protected up to a specified policy limit should they be stolen or damaged. An appraisal might be required for coverage.
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Living Expenses
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Homeowners' policies might include the cost of living expenses should you be forced from your home because of an insured disaster.
Liability
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If you or a member of your household causes injury to another party, your homeowners' policy might cover the resulting medical expenses and personal damages. This cover is effective in and outside of the home.
Identity Theft
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Many policies protect policyholders from financial damages that might result from identity theft.
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