Have you ever heard the term “hope for the best but plan for the worst”? That term sums up exactly what homeowners insurance does. This insurance helps you plan for the worst situations while always hoping for the best. According to the Insurance Institute, about 5% of homeowners filed claims in 2019. Let’s take a look at the four times you’ll use your homeowners insurance and be glad you had the option.
1. Natural Disaster
The number of natural disasters and the severity of those disasters have increased over the last decade. You no longer must live in a “tornado alley” or a “hurricane zone” to experience a natural disaster. A rain event with high winds can send a tree crashing through your home. After suffering a natural disaster, one of the first things a homeowner does is call their insurance company. Home insurance is responsible for dealing with the fallout and damage from a natural disaster.
2. Theft
It can be devastating to come home and find our home was broken into while you were away. The damage and the loss can make you emotional, and the last thing you need is to worry about replacement costs. Luckily if you have homeowners’ insurance that covers theft, you can rest easy knowing the costs are covered. While it will still take you a little while to recover from such a violation, knowing that you don’t have to pay all the costs can make everything easier.
3. Fire
There are about 350,000 house fires annually in the United States, according to the Fire Protection Association. A house fire can be devastating, and it can take hundreds of thousands of dollars to recover from a large house fire. If it weren’t for homeowners insurance, many people wouldn’t be able to recover. In the case of a house fire, one of the first calls you make will be to your insurance company, so you can feel peace of mind.
4. Vandalism
What happens if people vandalize your property? Vandalism may be a covered incident, so it’s important to call your insurance company to discuss the repair costs as soon as possible.
Homeowners insurance can help you prepare for everything life can throw at you. Get to know your policy today and see if you need to make changes to your coverage to ensure you’re ready for anything by reaching out to us.