Why You Should Consider House Insurance

A homeowners insurance policy is something your lender usually requires you to have while you have a mortgage. All the same, just because most lenders require you to have a homeowners insurance policy doesn't necessarily mean you should consider canceling it when your house is paid off. There are plenty of reasons to keep your homeowners insurance policy after it's no longer required.

Why YOu Should consider House Insurance

Your home is your biggest investment. If anything, being out from under a mortgage payment should be more incentive to have a comprehensive insurance policy to cover your investment. This way, if you incur any covered damages, you may not have to pay anything beyond your deductible for repair. If you've paid off your home in full and no longer owe a monthly mortgage payment, consider getting a policy with a high deductible. This will lower your premiums but still help ensure that you're covered.

You're not the only person in the world. This much is a given and it's all the more reason to have adequate homeowner's insurance. If someone gets injured while on your property, whether they're inside or outside of your home, you could be financially responsible for their injuries. Having a homeowners policy in place could help protect you from the financial burden of paying someone else's medical bills if they are injured on your property and can also help you pay for the cost of defending yourself in court if you are sued.

By having homeowners insurance, you're not leaving the protection of your worldly possessions to the random hand of chance. Home insurance offers monetary compensation if someone breaks into your house and steals your valuables. Don't think your belongings are worth that much? Think again. You can get an idea of just how much your stuff is worth by taking an inventory of your home and seeing for yourself how quickly it all adds up. Check out our free application, the Allstate Digital Locker®, for a simple way to inventory your belongings. Now that you've added up the value of your personal property, imagine losing it all to a burglar or to a fire. This is another compelling reason to have home insurance.

Nothing's free, not even peace of mind. The last thing anyone wants is to live life in fear of the next strong windstorm that comes along. Or hail, tornado or fire. If you're the kind of person who is constantly worrying about what could go wrong next, the amount of money you pay out for homeowners insurance should be well worth the peace of mind it brings. Buying insurance helps provide you with a ready course of action. To many people, having that is priceless.

In the end, one of the best reasons for having home insurance is also one of the most obvious. It's not that expensive when you compare the value of your home and your belongings with the amount of money you'll spend in premiums. Once you've done that, you'll realize that homeowners insurance is something you don't want to go without.

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Coverage subject to terms, conditions, and availability. Policy issuance is subject to qualifications. Allstate Insurance Company, Allstate Indemnity Company, Allstate Fire and Casualty Insurance Company, Allstate Property and Casualty Insurance Company, Northbrook, IL. © 2013 Allstate Insurance Company, Northbrook, IL.

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