Why do you need homeowners insurance?

Homeowners insurance is as vital as life insurance. You want to protect your home against all odds by insuring for an amount that can help rebuild it in case it gets destroyed or damaged.

Home-Sweet home is considered a priceless investment that you need to protect against any unwanted and unavoidable situations. Externally revealed, it is just a physical structure made of concrete, iron, bricks and wood. it is emotional attachment that converts a house into home. A home is a place where you not only sleep, eat, drink, study but decide to spend rest of your life.

Homeowners insurance is a protective coverage against natural calamities like earthquake, volcanic eruption, flood, landslide and hurricane. These calamities cannot be eliminated by manmade efforts but the damage or loss caused can be mitigated by insuring the house for a certain amount. Damages due to vandalism, riots, protests or thefts are also covered under this insurance. One other factor that might induce a home owner into insuring his home is the accidental death or injury to one of the visitors on his property. The legal costs to deal with such mishaps are covered under such insurance.

The basic policy taken to insure your house has certain dimensions where damages by natural disasters, theft and anti-social disturbances are covered. Being cheaper, people readily opt for it after purchasing a house. The extended policy not only covers the physical structure of the house but the contents too. These contents will include the entire set of luxuries that you use and enjoy. It includes electronic equipments, jewelry and furniture items.

The complete and comprehensive insurance covers the entire house which implies insuring the house, its contents and the detached buildings like sheds and garages. This insurance is considered one of the most expensive but once bought will give relief for years to come.

Usually, the policy differs for each calamity or incident. The policy taken against hurricane cannot be used to recover loss against flood. The policy must be bought looking at the physical environment and climatic conditions of the place where it has been constructed. Suppose, the home is erected in an earthquake-prone zone, the policy must be purchased taking this factor as a priority.

It is necessary that you buy the policy through authorized insurance agents who will guide you through proper calculations. A number of private and public insurance companies are involved in selling but it is sensible to buy from the one that understands your needs.