Home insurance is an essential type of investment you make into your home. There are differing opinions on home insurance and who needs it or doesn’t. At JC Demo Insurance Group, serving Matthews, NC, we want to help you better understand these matters. Keep reading to learn more.
Is Home Insurance Required By Law?
Home insurance isn’t required by law in the same way that auto insurance is. However, most homes are under a mortgage, and most mortgage companies require that you have insurance on the house while the mortgage is active. This is to provide protection to the mortgage company as to you.
What Happens Without Home Insurance?
You are running a significant financial risk if you do not have active home insurance. If the home is damaged or lost, the repairs or replacement of the house would be required out of your pocket. This could quickly put you and your family in a vulnerable financial position. You may even find yourself without a home and no other way to procure one. Housing instability is something you want to avoid at all costs.
Home insurance allows you to always have the peace of mind to provide a safe home for your family. Even if tragedy strikes and your home is lost due to damage, you will have the money to start rebuilding or purchasing your family a new home. This peace of mind is very valuable.
If you want to learn more about home insurance or any other insurance services, please contact us at JC Demo Insurance Group, serving Matthews, NC, and the surrounding areas.