5 Reasons Why You Should Have Homeowners Insurance

Home ownership is one of the largest investments you will make, so protecting this investment with quality homeowners insurance is a crucial part of being a responsible homeowner. However, while many Americans understand the importance of homeowners insurance, some don’t understand the specifics of what it covers if a burglary, natural disaster or other property damage occurs.

Here are five things your homeowners insurance policy should cover if an unexpected or unforeseen loss were to happen.

1.    Sudden and accidental flooding. This coverage is for the overflow of water from systems or appliances within your home, including plumbing, heating or air conditioning units, an automatic fire sprinkler system or certain household appliances. For example, if your hot water heater suddenly springs a leak and floods the recreation room in your basement, the water damage to your furnishings and carpeting or flooring would be covered. There may be certain exceptions depending on the cause of the flooding, so be sure to discuss the details of this peril with your insurance agent ahead of time. Your homeowners policy would typically not cover flooding resulting from a naturally occurring event outside your home, such as an overflowing river, mudslide or storm surge near the coast. You must purchase separate flood insurance to cover events like these.

2.    Fire. Nearly 1.5 million fires were reported in the U.S. during 2015, resulting in $14.3 billion in property damage, according to the National Fire Protection Association. Cooking is the leading cause of home fires, but heating equipment, electrical cords and wiring, and candles can also be culprits. Wildfires are another potential danger for U.S. residents living in dry climates, and as the…

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