Why Keeping Your Home Insurance Is Important

​Your house is most likely one of your most valued possessions. In several ways, homeowners insurance protects your investment — and you. Keeping your insurance current is a great way to ensure your home is protected. It helps to protect you against damage and loss to your property. Home insurance can also cover personal injuries sustained while on the premises.

​General Types of Home Insurance
Here are some of the main reasons to consider keeping your house insured.

1. Structure Insurance
   This protects you against financial loss due to structural damage to your home caused by natural or artificial disasters. Theft and terrorist attacks are other possible coverage options.
   
   
2. Comprehensive Home Insurance
   Your home, the things inside it, its structural capabilities, and your family members living in that house should be covered under the umbrella of a single home policy with comprehensive home insurance.
   
   
3. Content Insurance
   It only covers the damage or loss of things within the residence, such as electronics, jewelry, and other valuables. The coverage amount is determined by the market value of the damaged or lost accessories.
   
   
4. Benefits of Having Home Insurance
   Home insurance protects your property by providing financial protection in the event of an external incident that causes losses and damages. 
   
   
5. Contents Coverage for Your Home
   When you purchase house insurance, you should make a list of all the equipment, furniture, gadgets, and other valuables that will be protected under your coverage. Moreover, you may be reimbursed in part or in full if a covered event, such as natural disasters, damages, or destroys some of this property, which is based on your plan's specific provisions. 
   
   
6. Secure Your Separate Buildings
   Protecting your detached properties may include fences, sheds, garages, fences, the dog house, and more. Detached structures are typically covered up to a certain coverage limit for your primary residence.
   
   
7. Your Main Residence Is Protected
   The primary goal of house insurance is to safeguard your primary residence or the area of your home where you live. Consider a total loss caused by a house fire or substantial and expensive damage caused by natural disasters.
   
   
8. Insurance For Loss Of Use
   If you are forced to leave your house while it's being repaired or reconstructed due to an insured occurrence, you will be responsible for accommodation, food, and travel costs. Your house insurance's loss of use component will cover these up to a certain degree. 
   
   
9. Coverage for Liability
   One of several reasons why you can't afford to go on without a home policy is because of this: If somebody is harmed on your property, you may be responsible for the medical bills.
   
   Your insurance does not cover injuries or property damage to you or your family members. It's intended to shield you from costly litigation that may emerge from, for instance, a guest being bitten by your pet.

In Summary
A home insurance coverage will not prevent damage to your house or personal items, but it may provide a financial safety net if something unforeseen happens.

At Insurance Marketplace, Inc., we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays, and we're here to help you out. Learn more about our products and services by calling our agency at (541) 779-0177. You can also request a free quote by CLICKING HERE. Coverage discussed in this article is not guaranteed. Please contact our agents today to ensure that your needs are being met and learn more about your policy. We are happy to help!