Why You Should Insure Your House?

When the word “home” comes to your mind, what do you think of? Love? Warmth?Peace and harmony? A safe haven?

Each one of us can’t help but relate the word home with feelings of attachment. It’s our final resort where we turn our tired souls to, after a hectic day of hard work, where we search love and relationships, where we hide from the mad chaos of the world. What happens when this abode is damaged by any calamity or any unforeseen accident?

Losing the house, you have so lovingly built, could be a nightmare, let alone the cost of rebuilding. Those who’ve faced this situation know how easily houses can be damaged and how difficult it is to be rebuilt.

Knowing its importance and value to each one of us. We want to be sure of protection from any risk or danger before buying or moving into a new house. Though there is no guarantee of your house staying intact against all kinds of risks; you can ensure that you rebuild and continue with your life easier after a mishap.

You can ensure financial support in rebuilding your house with a homeowner’s insurance. Here are eight more reasons for you to insure your home and it’s content:

#1. It protects you from most valuable investment

For most of us, our home is the most expensive and precious investment we make over our lifetime. Insurance means that in case of any natural disaster or an unfortunate event, you will be offered a lump sum amount which can be used to rebuild your home if it gets destroyed.

#2. It gives you a replacement for your loss

Home insurance gives you financial security and provides the additional benefit of replacing your insured belongings. Instead of merely claiming for an equivalent amount of money for your loss, you can get a replacement for your damaged goods if you desire. Do check the fine print, since the type of home insurance policy you opt for will decide the things you can claim.

#3. It gives protection against liabilities

Your home insurance policy provides covers with any damages that you may inadvertently cause to another property. Also, any medical expenses of the third party injured on your property will get covered. This type of coverage also provides you protection by covering expenses of any legal issues arising out of a third party getting injured in your premises.

#4. Protect the Entire Premise

If you opt for an extensive home insurance policy, it will not just protect your home but also other components in your premises such as a garage, deck, and even your fence. Plus, you have the option of opting for add-ons in your policy to protect the contents of your house like your furniture, electronics, expensive cutlery, and valuable home appliances.

#5. Enjoy Your Vacations Without Stress

When we go away for a vacation, one thought to linger at the back of our mind is what happens if there is an accident or burglary at home. With certain add-ons to your house insurance, you can protect against such occurring. If you’ve opted for coverage of your valuables like jewelry or precious items, you can declare the valuables and seek cover, in case of theft.

#6. Cost Effective

People who consider home insurance policy as an unwanted expense are wrong. The benefits one receives are much more than money can buy for. Even the most comprehensive policy has nominal rates to get your house insured.

#7. Covers Your Temporary Living Costs

If at all, your insured house has undergone some damage and is inhabitable until you repair or renovate it, the insurance company will cover your expense of renting out another house until your own house is back to a livable condition.

#8. It provides you peace of mind

Above all, buying home insurance provides you peace of mind. It is definitely a relief when you know that you no longer have to worry about the protection of property. In today’s stress-filled world, peace of mind is like a luxury. So just, select your policy, pay your premium and enjoy this luxury.

All in all, put your foresight to good use, insure your home and secure your future.

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About the Author: Santanu

I'm Santanu, co-founder of mydailylifetips.com. Love to read & write about Life hacks, How to guides, Money Saving tips and travel stories on this space. Checkout my first Hindi YouTube Channel on Personal Finance Guide.

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