Home insurance is in place to protect you in the event of a disaster, accident, or another unforeseen event. When you have a mortgage, home insurance is required. The bank considers your mortgaged home collateral in case you stop making your loan payments. In order to protect this asset, the bank will not give you a mortgage unless you have home insurance. That’s how important this type of insurance policy is. At AllConnecticut Insurance, we’ve put together a short guide that illustrates three scenarios where you would need home insurance. Read on to learn more.
1. Fire
Fire is devastating. It causes a maximum amount of damage in a short period of time. That’s why it is important to have a fire safety plan in place, to practice fire drills, and to have a home insurance policy that covers fire in West Hartford, CT. Talk to a reputable agent to see exactly what is covered under different policies, like the cost of a hotel room while the fire-damaged home is being restored. Even if you own your home outright, you still need homeowner’s insurance in a scenario like this.
2. Theft
A burglary occurs every day in the United States and your property could be next. To prevent this, take some security measures by installing a security system, outdoor lights, and hiring a house sitter while you’re on vacation. If you are still the victim of burglary, your insurance will help recoup the cost of stolen items once your deductible has been paid.
3. Injury
If someone is injured on your property, they could sue you and litigation is expensive. With homeowner’s insurance, however, you, your assets, and your savings are protected if you should face litigation. For added protection, add umbrella insurance.
To learn more about home insurance, contact AllConnecticut Insurance, serving West Hartford, CT, today.