Why You Should Purchase Home Insurance

by | Feb 17, 2012 | Insurance

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With owning your own home comes great responsibility.  You have to pay the utility bills, keep the yard in order and keep up on home repairs.  One of the most important things you can do when you purchase a home is obtain home insurance Dallas, TX.  You want to protect your home and the items inside with the right type of home insurance.  A home insurance policy will protect you financially if your home gets damaged by fire, smoke, wind, burglary or a number of other natural or man made disasters.  It’s not required by law to have home insurance but it’s definitely smart to have it.  And most mortgage lenders require you to have some type of home insurance before they will lend you the money.  Condo owners may also be required to have home insurance.  Check with your tenants association to find out what is required of you.  If you are a homeowner, you should purchase at the very least, a basic policy to protect your investments and valuables.

Some homeowners may feel that they don’t need insurance on their newer home because it is new and not much can go wrong with a brand new house.  Or can it?  Even with a brand new home, there are still accidents that can happen.  Even if it doesn’t actually pertain to the home itself.  Maybe you have guests over and one of them stumbles down your stairs and injures their leg.  You as the homeowner are liable for their injury.  Depending on what kind of coverage you have, your home insurance policy should cover their medical costs or any legal costs if they decide to take legal action against you.

When you begin shopping for homeowners insurance, make sure the agent representing the home insurance agency goes over your entire policy with you.  You want to make sure you know what is included and what is not.  Some hazards or disasters may not be covered under your home insurance policy.  For example, flooding is not typically covered under a home insurance policy and a separate policy for something like that would need to be purchased.  You also want to make sure your valuables and property is insured as well incase your home is burglarized or vandalised.  If someone takes something from you home, your home insurance policy will cover the cost of the item that was taken.  Again, it’s important to know how much of your items will be covered.

And lastly, don’t forget to ask about discounts.  Some home owners can receive discounts if they have smoke detectors, burglar alarms or other security devices in place.

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