For most homeowners, buying a residential property is the largest investment they will ever make. Unfortunately, that investment is vulnerable to several risks, including vandalism, storm damage, and liability lawsuits. Read on to find out why every homeowner should purchase Homeowners Insurance in Fort Myers to protect his or her investments.
Required by Lenders
Just about all mortgage lenders require borrowers to take out homeowners’ insurance policies. The reasoning behind this stipulation is that it protects the lender’s investment against loss or damage.
Homeowners are also required by lenders to keep their insurance policies up-to-date. If they fail to do so, the lender may take out a policy in the borrower’s name and add the payments to their monthly mortgage payments.
Protection Against Loss
Homeowners Insurance in Fort Myers protects against loss. If a serious storm or another natural disaster destroys part or all of the house, homeowners can use their insurance benefits to make repairs. Benefits can be collected whether the entire house is destroyed or just a small portion of the property has been damaged.
Protection for Belongings
Not all consumers realize this, but homeowners’ insurance doesn’t just cover the house, itself. It also covers the items stored in the house and, in many cases, policyholders’ personal belongings stored off-site. When a policyholder’s belongings are damaged or stolen, their insurance carriers will reimburse them for the value of the items.
Protection Against Liability Lawsuits
Most homeowners’ insurance policies also offer family liability coverage. This coverage kicks in any time a homeowner faces a liability lawsuit. It will cover everything from legal and medical fees to lost wages if the claimant misses work.
Peace of Mind
Homeowners and their families shouldn’t have to worry about where to go or how to pay for necessary repairs when disaster strikes. Homeowner’s insurance policies mean they don’t have to. Most homeowners find that it’s worth taking out a policy just for the peace of mind of knowing that their properties and belongings will be protected, even if they never have to file a claim.
The Bottom Line
Ready to take out an insurance policy on a new home or switch insurance providers? Homeowners can learn About Lee County Insurance Agency online or call to schedule an appointment with an insurance agent today to get started.
