Your home is your biggest investment asset. Not only is it where you and your family live, but it also holds precious memories and prized possessions. A big part of being a responsible homeowner and provider for your family entails protecting all of your assets. Purchasing the right homeowners insurance in Mansfield, Texas can help you do just that.
Sometimes, events that are out of your control like fires, flooding, break-ins, or natural disasters happen and you need to always be prepared for the worst case scenario. With that in mind, here are five reasons why you need home insurance in Mansfield, TX.
1. Your Mortgage Lender Might Require It
Unlike auto insurance, the state of Texas doesn’t legally require you to insure your home. However, your mortgage lender most likely will. At the end of the day, they’re also investing in your home and it’s in their best interest to ensure that you protect their investment. In the event of an accident or incident, your mortgage lender wants to make sure that they can recover their lost funds. If you don’t purchase an adequate homeowners insurance policy, then your lender is entitled to purchase one in your name and add it to your biweekly mortgage payments.
2. Protect Your Home and Its Contents
Certain homeowners insurance policies also include contents insurance. That can come in handy in the event of a robbery in which your home isn’t damaged but expensive items are stolen. If that happens, you can then file a claim for the estimated value of the items that were stolen and may be able to recover some funds. Homeowners and contents insurance also safeguards your property in the event of a fire, flooding, vandalism, and any type of natural disaster.
3. Protects You from Personal Liability
Another important reason to purchase homeowners insurance is that it protects you from personal liability in the event that someone becomes injured on your property. Even if you do everything you can to keep your property clean and well-maintained, sometimes freak accidents can still happen. For instance, if one of the neighborhood kids trips and falls while playing at your house, you could be liable for any injuries they sustain. However, liability insurance can protect you from being legally responsible for those types of injuries.
4. It Protects Your Home from Unexpected and Unforeseen Loss
Home insurance can help protect your home from a variety of incidents and cover unexpected losses. The cost of renovating or rebuilding your home after it’s been demolished in a natural disaster is astronomical, not to mention the emotional devastation you and your family will most likely go through during this difficult time. Comprehensive coverage can help offset a huge chunk of the financial burden and help you and your family get back on your feet as you recuperate your lives.
5. Pays for Temporary Housing after a Natural Disaster
If your home was destroyed in a natural disaster or due to an accident, then you’re going to need a temporary place to stay with your family while it’s being renovated or rebuilt. You might even need to find new permanent housing and that can take time. Homeowners insurance in Mansfield, Texas can help cover the costs of staying in a hotel or other temporary accommodations during this difficult time.
Get the Peace of Mind You Need
Trust the experts at Farmers Insurance – Crystal Schuder Agency to help you find the right comprehensive coverage for your home in Texas. We’re dedicated to helping you find homeowners insurance that suits all of your needs. Contact us today to learn more!