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Why Do You Need Homeowners Insurance? 7 Reasons You Need to Protect Your Luxury Home

As a responsible homeowner, there are a lot of things you need to take care of for the sake of your property’s value. There is constantly something that needs repair, but you take each project seriously. You know your home is worth the investment of your time and money. At the same time, you are practical and realistic. This means you have probably considered buying homeowners insurance at some point. So, why haven’t you yet? If you have no answer to that question, try this one:

Do you need homeowners insurance in the first place?

You Need Luxury Homeowners Insurance

To be frank, yes you do. There are many reasons for this, but some of the most important ones are listed below. You know your home is an investment, and it’s important to take proper care of it. Check out these seven reasons you need homeowners insurance to protect your luxury home.

1. Severe Weather

Don’t get left behind when severe weather hits your area and you have no homeowners insurance. This is one of the most common claims for homeowners. In some areas of the country, it can be absolutely necessary to prepare for severe weather.

In the year of 2016, 5.3% of all insured homes submitted a claim. While this is a small percentage, that 5.3 % was protected against any kind of weather or natural disaster that came their way.

You deserve to have the same protection for your luxury home.

2. Theft

Another reason you need insurance for your home is the unfortunate occurrence of theft from homes. There is no way of predicting exactly when a thief will strike in your area. When it happens, it can be heartbreaking. Victims can feel like they or their possessions aren’t safe in their own homes. And, after a catastrophic event  is no time to be asking yourself “Do you need homeowners insurance, really? Or, should I take the chance and save some money up front?” It’s hard to prevent every theft or act of vandalism. And, the odds are not in your favor when it comes to your chances of experiencing this at some point in time. Insurance is simply a sensible decision.

Consider your car. Would you even think of driving it around uninsured? If it got stolen, you definitely want to make sure you have a solid auto insurance policy to cover it. In case such a terrible situation happens to you, you need to make sure you are as protected as you can be. Homeowners insurance would help cover the loss of any assets due to documented theft.

While it isn’t specifically replacing that which was lost, it is a comforting step toward healing after such a circumstance.

3. Fire Damage

Another heartbreaking situation in your home would be the potential fire.

Fires don’t have to burn down an entire house to cause significant trauma for the residents. Even if it is just a room or two that was damaged, it feels awful to know that your home and your possessions are ruined. The good news is that you can restore some of that lost damage by having a homeowners insurance policy cover your losses.

4. Dog Bites

Perhaps you don’t have a dog. But if you do, you can never be too careful with your furry friends! You might think you have the most loving, caring pup in the world. But sometimes it is hard to prevent them from feeling threatened by strangers and lashing out. Plus, if someone is trying to be friendly with your dog while you are not around, they might not know him or her well enough to know when a boundary is crossed. In such a situation, you don’t want to be put at a risk of liability.

Surprisingly, a third of homeowners insurance claims every year are due to dog bites. It might come as a shock to pet owners, but don’t let potential legal proceedings shock you even more.

5. Liability for Guests

Speaking of liability, there are all kinds of ways a guest in your home could injure his or herself. You might have planned a peaceful brunch with your closest friends–but then someone accidentally slips and falls down the stairs.

Instead of having to cover ensuing hospital bills out of pocket, let your homeowners insurance policy take care of that for you. A high-quality policy will take care of something like that entirely, releasing you from any long-term liability.

6. Natural Disasters

As mentioned above, it can be tough to predict natural disasters. It can be even tougher to predict exactly how much damage such a natural disaster might cause for your home.

If you live in an area known for floods, volcanos, or earthquakes, there is no reason for you to ignore homeowners insurance. You need to take care of the possibility that your home will experience damage at the hands of Mother Nature.

Sometimes, that damage can be particularly devastating. Families have lost their entire homes to these catastrophes. If you don’t have an insurance policy in place, how will you protect your financial stability if the worst should happen?

7. Peace of Mind

At the end of the day, you have no idea what could affect the value of your luxury home property. Whether it be a natural disaster, damaging weather, or a theft, make sure your home and your assets are covered.

Homeowners insurance takes care of all your concerns. There is no need to worry if you know your financial security will be met in the event something horrible happens. And, this is why homeowners insurance should be considered more of an investment than an expense. It would be worth your money if, after a flood or a fire, you get reimbursed for your loss.

You deserve the peace of mind of knowing that you and your family will be safe… no matter what.

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So! Do You Need Homeowners Insurance?

It’s the million-dollar question… Do you need homeowners insurance? No matter your situation, you deserve the peace of mind that comes from a solid insurance policy. We know how important it is that you find the best policy to suit your assets and expectations.

Check out our homeowners insurance coverage options today to find the perfect policy for you and your family.