Why do I need homeowners insurance?

@aidan.jacobs 

There are several reasons why homeowners insurance is important and beneficial:

1. Protection for your home: Homeowners insurance provides coverage for your house, other structures on your property (such as garages or sheds), and personal belongings in case of damage or loss caused by covered risks like fire, theft, or severe weather events. It helps you financially recover by providing funds to repair or rebuild your home or replace your belongings.
2. Liability coverage: If someone is injured on your property, homeowners insurance often includes personal liability coverage. This can cover medical expenses and legal fees if you are held responsible for injuries or damages resulting from accidents or incidents on your property.
3. Securing a mortgage: Most mortgage lenders require homeowners insurance as a condition for approving a loan. They want to ensure their investment is protected in case of damage to your home. Without insurance, it may be difficult to secure a mortgage.
4. Peace of mind: Knowing that you have insurance coverage provides peace of mind, knowing that you have financial protection in case of unexpected events. It can help alleviate the stress and uncertainty that can arise from unforeseen circumstances.
5. Additional living expenses: If your home becomes uninhabitable due to a covered event, homeowners insurance often covers additional living expenses such as temporary accommodations and associated costs until your home is repaired or replaced.
6. Protection against theft: Homeowners insurance can provide coverage for stolen or damaged personal belongings. This can help you recover the value of your stolen items or replace damaged property due to theft or burglary.

It's important to review your homeowners insurance policy, understand the coverage it provides, and ensure it aligns with your specific needs and risks.