Why do I need home insurance?

You need home insurance because it protects you from major financial losses related to your home — often your biggest asset. Here’s why it’s essential:

Top Reasons You Need Home Insurance

1. Protects Your Home Itself

• Covers damage from fire, storms, theft, vandalism, and other common disasters.
• Helps pay to repair or rebuild your house if it’s damaged or destroyed.

2. Covers Personal Belongings

• Reimburses you for things like furniture, electronics, clothing, and appliances if they’re damaged or stolen.
• Coverage often includes items even if they’re outside your home (e.g., from your car or storage unit).

3. Liability Protection

• Covers you if someone is injured on your property and you’re found legally responsible.
• Can help with legal fees, medical bills, and settlements.

4. Pays for Temporary Living Expenses

• If a disaster forces you to leave your home, it covers hotel, food, and other costs during repairs (Loss of Use coverage).

5. Mortgage Requirement

• If you have a mortgage, your lender requires insurance to protect their investment in your home.

6. Peace of Mind

• Natural disasters, fires, and break-ins are often unexpected.
• Insurance means you won’t have to pay out of pocket for large, sudden expenses.

🏠 Real-Life Example:

Imagine a kitchen fire damages half your home. Without insurance:

• You could be facing $100,000+ in repair costs,
• Plus replacing your furniture and appliances,
• Plus finding a place to stay during reconstruction.

With insurance, most of this is covered — sometimes with just a deductible of $500–$2,000.