For most people, a home is the biggest financial investment of a lifetime. However, that important investment comes with more than its share of risks. From devastating storms to vandalism, to liability for others’ injuries, it’s important to have protection in place. Here, area customers will learn some of the advantages of a homeowners insurance policy in Monroe MI.
Complying With Mortgage Lenders’ Requirements
While it’s not required by the state, like auto insurance, homeowner’s insurance is typically required when a home is financed. These insurance policies protect the lender’s investment from damage or loss caused by covered perils such as theft, vandalism, or fire. The minimum policy amount is typically tied to the size of the mortgage. If an owner doesn’t sufficiently insure the home, the lender may buy a policy and add the cost to the monthly mortgage payment.
Protecting the Home From Losses
A standard homeowner’s insurance policy protects the home and other unattached structures on the property from hazards such as fire, vandalism, storm and wind damage, and more. Whether a portion of the property is damaged or the entire home is destroyed, the coverage provided by a homeowner’s insurance policy pays for replacements and repairs.
Covering Personal Belongings
If a homeowner or family member’s belongings are destroyed or stolen, a homeowners insurance policy in Monroe MI may reimburse them for the value of their appliances, clothing, electronics, and furniture. Policies provide protection anywhere in the world, whether it’s in storage, in the car, or away at college.
Protection From Liability
Homeowner’s insurance does more than protect the home and its contents. Liability insurance, which is a standard part of most policies, is there to cover the homeowner and their family if there’s a lawsuit stemming from an injury on the premises.
Start the Search for Coverage Today
If a homeowner is looking for a reliable policy, they should start here. When they get their quotes, they can learn about money-saving benefits that take effect as soon as they buy a policy. Contact us by phone or visit the website to see our home insurance coverage options for every homeowner, budget, and situation.
