Why You Need Homeowners Insurance

Homeowners insurance South Florida
Homeowners insurance South Florida

After investing significant amounts of money on the purchase of your new home you may be reluctant to make an additional investment in homeowners insurance in South Florida. You may even wonder if an insurance policy is even necessary. Quite simply, homeowners insurance is an absolute necessity in most cases. In fact, if you purchased your home with a mortgage, most lenders require that you purchase at least a basic homeowners policy. While a basic policy may meet your lender’s requirements, additional coverage may be necessary to provide the personal protection you need to prevent potentially devastating financial consequences in the future.

What Does Homeowners Insurance Cover?

There are two main types of homeowners insurance. The first, hazard insurance, covers damages caused by certain natural disasters and may include coverage for smoke, fire, wind, hail, theft, or vandalism. Each policy is unique, however, so it is important that you look closely at what types of coverage is included in your policy. Depending upon your needs, it may also be beneficial to add coverage for flood, earthquakes, or windstorms.

The second type of homeowners insurance is a liability policy. This pays for expenses that are incurred when someone is injured while on your property. For example, if a friend trips on a loose door mat while leaving your home and is injured, your homeowners liability coverage would help pay for medical expenses. This type of coverage is especially vital in cases where a person is injured and then sues you for damages. Facing a lawsuit without appropriate liability coverage could end up costing you your home or could even cause life-long financial repercussions.

Find the Protection you Need

Each type of homeowners insurance in South Florida can be essential for providing the full protection you need. Don’t risk your future. Talk to an experienced insurance agent today to determine what types of coverage is right for you.