The Importance of Maintaining Homeowners Insurance

Your home is most likely the biggest thing you own and the most expensive. You’ve put a lot of money into it. You made repairs to the roof, updated the fixtures, and installed new flooring. This has become a huge investment. Why not protect it? Homeowners insurance is the only way to make sure that your home is safeguarded from disasters.

Why You Need Homeowners Insurance

The #1 reason to have homeowners insurance is protection. Coverage usually applies to the buildings’ structure and its contents. Depending on your policy, you can get protection for everything inside of your home. Talk with your independent insurance agents in Matthews, NC at JC Demo Insurance Group, so they can help you tailor your coverage to include:

  • The House – repairing or rebuilding the homes’ structure.
  • Personal Belongings – could include furniture, electronics, appliances, clothing, and other valuables.
  • You, Your Family, and Guests – accidental injuries can be added to your policy to cover medical bills, hospital stays, and therapeutic costs.
  • Additional Costs – if you have to stay at a hotel for a few days while your home is being repaired because of fire or water damage.

What Happens If Your Homeowners Insurance Lapses

Homeowners policies were meant to pay for damages to your home if there is a disaster such as a fire, vandalism, lightning, earthquake, hurricane, or other catastrophes. If you allow your policy to lapse, you would not only have to pay for damages that arise, but your mortgage could go into default. At the time of closing, most lending companies agree to the loan if you acquire and maintain insurance coverage. When there is a lapse, the lending company may put your home in default.

Get in touch with JC Demo Insurance Group in Matthews, NC. Their independent agents can discuss with you the details of maintaining your homeowners insurance policy.