Your home is one of the largest financial investments you’ll make in your lifetime, but it’s also an investment that’s vulnerable to a number of risks. From brutal storms to liability for injuries, to vandalism – it’s crucial that you have home insurance in Salem OH to safeguard your home and family from financial risk.
Following are the top 6 reasons why you need home insurance.
1. Homeowner’s insurance is required by your mortgage lender. You typically need homeowners’ insurance if you’re financing your house. Home insurance guards your lender’s investment against loss or damage caused by covered risks like fire or vandalism.
2. Home insurance in Salem OH protects your home from loss. Standard homeowners’ insurance protects your home and unattached structures on your property from numerous hazards including wind damage, fire, vandalism, tornadoes, and thunderstorms.
Whether a small portion of your property is damaged or your entire house is leveled, the coverage on your average home policy steps in to help pay for repairs and replacements so you’re not left with the bill.
When you’re purchasing or renewing your homeowners’ insurance, make sure your policy pays out damages on a guaranteed replacement cost basis – rather than an extended replacement cost or actual cash value basis – to ensure you’re getting the most financial protection possible.
3. Home insurance covers your personal belongings. If your belongings are stolen or destroyed by a covered hazard, home insurance in Salem OH may reimburse you for the value of those items. Plus, your policy protects your belongings anywhere in the world, whether it’s at your place, in your car, or with your child at school.
4. Homeowners’ coverage protects your liability. Your homeowners’ insurance does more than just cover the structure and contents of your home. Family liability insurance, which is standard on most homeowner’ policies, is designed to cover you in the event of a lawsuit arising from an injury on your property.
Thankfully, liability coverage extends to accidents away from the home, legal and medical expenses to others injured.
5. Coverage includes temporary housing in the event of a disaster. If your home is left uninhabitable after, say, a brutal hailstorm or a fire, additional living expense coverage, which is standard in most home insurance policies, could help pay for temporary living costs that are over and above your normal living expenses while your home is being repaired. These costs may include hotel expenses or interim housing, food, laundry and dry cleaning, and storage space.
6. Home insurance in Salem OH offers peace of mind. You can sleep a little sounder at night knowing that you have a safety net if anything ever happens to your investment. Additionally, if most of your home is paid off, you’ve obviously put a lot of hard-earned cash into it at that point. If something ever happens to your place, your home insurance is there to make sure you don’t lose your investment.
If you’re in the market for reliable home insurance in Salem OH, we offer a wide range of customizable coverage options so you can tailor a policy that’s right for you and your situation. Call our office today to schedule a consultation and let’s discuss your best coverage options!