Do I Really Need Homeowners Insurance?

Posted on: October 15, 2016 by Goodrich & Watson

Buying a house is expensive. First, well, there is the cost of the house. On top of that, there are inspection costs, bank closing costs, and, usually, steep Realtors’ fees. Once you buy your house, you may want to have it renovated or painted before you move in. You’ll probably need to hire movers to haul your furniture and belongings. And, you’ll probably want to purchase some new furnishings, window treatments, rugs, and accessories to make your new house your home sweet home. All of those costs add up quickly. Do you really need to buy Virginia Homeowners Insurance, too? If you’re wondering, “Do I really need homeowners insurance?” Don’t spend too much time contemplating that question. There are no ifs, ands, or buts – the answer is, “Yes.”

Can You Afford to Pay Out of Pocket to Rebuild Your House?

The value of insurance is that it protects you from risk. Hopefully, your home will never be damaged or destroyed by an electrical fire. Hopefully, a tree will never crash through your home’s roof. Hopefully, your home will never become engulfed by raging floodwaters. Actually, the odds are in your favor. Odds are, your home will never be the site of one of these disasters. According to the National Fire Protection Association, last year there were 365,500 house fires in the United States. Do you really want to take that gamble, though? There is no guarantee that your home won’t become a statistic. Should you be in the unlucky minority, could you rebuild your home without an insurance payout?

Insurance is Essential. Umbrella Insurance is Extra Smart.

Home insurance is a definite must-have. Umbrella insurance is wise, because it provides extra coverage beyond the limits of your homeowner’s policy. If, for instance, someone is seriously injured in an accident at your home and requires extensive medical care, your liability to could exceed your homeowner’s policy limit. Umbrella insurance kicks in at that point to cover the overage. Because umbrella insurance is surprisingly affordable, adding this coverage is definitely worth considering.

Whether you are in the process of buying a new home or have been in your home for many years, you can trust Goodrich & Watson with all of your home-insurance needs. Your home is your greatest asset. Protect it with insurance you can trust.

 

Posted in: blog Homeowners Insurance Personal Insurance umbrella insurance Virginia

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