What Might Happen if You Don't Have Home Insurance

​What does living a life without home insurance mean? It may mean not paying an entire month to cover the monthly premium, but it may also mean going to bed at night worrying about how life would be like if robbery, fire, or a major storm were to affect your house.

Consequences You Might Face
Homeowners who do not pay annual mortgages for insurance believe they have more than enough money to invest. Not paying for home insurance monthly will make a significant financial difference between those who pay for their home security, and those who don't. Here are three consequences that you might need to face for not having your home insured:
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1. No Protection for Your Valuable Asset
   For the vast majority of individuals, the most valuable asset they will ever possess is a home. In the case of a possible hazard, a home insurance policy protects the costs associated with restoring the home's foundation. That expensive asset taken away without a means of return is the last thing any homeowner needs.
   
   
2. No Liability Coverage
   Other than protecting your home and contents, home insurance policies also provide liability coverage. No matter how cautious you are, people who visit you in your house may not be. There could be injuries, and you do not want to be held legally liable or bear the related costs.
   
   
3. Huge Financial Loss
   Imagine if the whole structure of your house and belongings were burned down. You would need to fish out an immense amount of money and suffer from substantial financial losses. To help restore your home, you will have to pay out of pocket for repairs or find other tools.
   
   You might lose your entire investment in the worst-case scenario. Holding your homeowners' policy in good standing is an excellent way to ensure that if affected by a covered loss, you will be able to cover the costs of fixing or replacing your home and belongings

Conclusion
Not having protection at home implies not having peace of mind. It means you're always on the lookout for all sorts of catastrophes that could hit your house. With the right amount of coverage for your home insurance, you can stay calm when an unforeseen disaster arrives.

At Insurance Marketplace, Inc., we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (541) 779-0177 or Click Here to request a free quote.