“Homeowner’s insurance is a way to protect your home. It’s required by mortgage companies, though it’s not a state-required form of insurance.

What Does It Do?

Homeowners insurance is designed to provide protection against the various things that could happen to your home. A standard policy provides:
Protection of property
Protection of dwelling
Protection of personal belongings
Liability coverage

Each of these is important as it would allow you to file a claim with the insurance company if something happened. If your house was damaged in a storm or fire, you experienced a burglary, or even someone tripped in your home and tried to sue, you would be covered with this kind of insurance policy.

The cost of insurance is calculated based on the value of your home, the area in which you live, as well as the full level of coverage you choose to obtain.

Who Is It For?
Home insurance is for anyone who owns a home. This includes people who live in the home as well as those who purchase homes for purposes of investment.

The main benefit to having a policy is that it’s easier to file a claim with the insurance company and have insurance pay for repairs and replacements than to have to pay out of pocket.

Home insurance policies have a deductible that is in place. This is the money that has to be paid out of pocket before insurance covers the rest. The amount varies on your individual choosing. The higher your deductible, the more affordable your premium is.

Without homeowners insurance, something could happen and you could have to spend tens of thousands of dollars on repairs. With insurance, you call and file a claim so that insurance takes care of the majority of expenses related to what happened.”