6 Reasons Every Homeowner Needs Insurance
Your home is one of the most valuable things you will own.
19:29 18 November 2020
Not only does it keep a roof over your head, but it also contains all your possessions, comforts and a lot of your memories. So, it makes sense for homeowners to ensure that their home is fully secure. However, despite the best security measures that you might implement at home, there’s always going to be some risk of damage, theft or natural disasters that can have a negative impact on your home and your life.
Home insurance will help to protect your home should any of these problems occur. Although home insurance is not a legal requirement, providers do often require it before they are willing to lend you a mortgage. Whether you are purchasing your first home or have been in the property for a while, here are some of the top reasons to consider getting home insurance.
Protection from Loss
Houses are certainly not cheap. Getting a good home insurance policy will ensure that your home is repaired or replaced if it is destroyed or seriously damaged by fire and most other natural disasters. In the case of flooding, you may need to add flood insurance coverage to your policy if it is not included if your home is in an area that is prone to flooding. Serious damage caused to your home can be extremely costly to replace and, in some cases, may even render the home inhabitable, in which case your home insurance policy will provide the peace of mind you need.
Over time, home insurance can certainly help you save money - particularly if you purchase an older property that may be more likely to develop future problems. Getting issues fixed at your home is not always cheap and many homeowners simply cannot afford to shell out for costly repairs to the structure of their property, for example. A good home insurance policy provides you with peace of mind that if anything does go wrong in your property, you can have it dealt with immediately.
Protect Against Theft
Along with getting buildings insurance to protect your property itself, you should also consider taking out contents cover. This will protect your belongings in the event of them being damaged in a disaster such as a fire, or if your home is broken into and items are stolen. As most of us know, some of the items in our homes like televisions, laptops, appliances, jewellery and even some furniture items could be very costly to replace, so don’t risk it and make sure that you take out solid contents cover too. You can find a range of building and contents insurance policy options with the home insurance comparison tool from Quotezone. This will allow you to run a quick home insurance comparison by simply entering your details into the site before a range of suitable quotes are provided for you to choose from.
Loss of Use
Your home is your safe haven, but if something bad were to happen to it, could you afford to go and stay elsewhere? Moving your entire family into your parents’ spare bedroom is unlikely to be something that you could easily do if there were to be a fire at your property or damage to the roof that needed to be immediately repaired and renders the house inhabitable in the meantime. If your home is destroyed or so badly damaged that you are forced to seek shelter elsewhere, your home insurance policy will pay out to ensure that you and your family have a comfortable place to stay such as a hotel or short-term rental home.
Protection from Natural Disasters
With flooding becoming more and more commonly seen in many areas of the UK, a home insurance policy that protects your home from this type of natural disaster is even more important than ever. While the good news is that there’s unlikely to be an earthquake or hurricane that causes serious damage to your home in the UK, the fact is that you can’t be too careful - particularly with climate change that has made the weather even more unpredictable. Whether it’s an unexpected windstorm or a flood that causes damage to your home, the right home insurance policy will ensure that you are covered to make any necessary repairs.
Peace of Mind
Finally, even if you never need to use your home insurance, peace of mind is the main benefit of having it. Hopefully, your home will never be so damaged that you have to make a claim; however, knowing that you will be covered in the event of anything bad happening to your home can help reduce a lot of the stress that can come with being a homeowner.
Owning a home is a huge responsibility, so make sure that your property is protected with a good home insurance policy.