Benefits of Home Insurance Your home is probably the
most valuable asset you own or
will ever buy. It is only natural
that you will want to do all you
can to protect it. But if you
financed your home and have
a mortgage on it, you will not
have a choice whether you want
to buy insurance or not. Your
mortgage lender will require
that you have a home insurance
policy to protect the investment
they have in your home, too. To understand the
benefits of home insurance, you
first have to understand what types of things could go wrong that could cause you to suffer a loss. We all think that bad things won’t happen to us, but unfortunately sometimes they do. Think through how likely it would be for any of the following things to happen to you (standard homeowners insurance usually covers these): [Pullout: 
] - Fire – Home fires are the most common disaster in the United States. A home fire is reported every 79 seconds in the U.S. according to the American Red Cross.
- Theft – Burglary is the most common crime in America
- Windstorms and hail
- Explosions
- Vandalism
- Falling objects
- Weight of ice, snow or sleet
- Freezing of a plumbing, heating or air conditioning system
If any of these occurred and caused you to suffer a loss, would you have enough in your savings account to repair the damage or replace lost items? If your answer is NO, then you can appreciate the most important benefit of home insurance – protecting you and your loved ones against extraordinary expenses in a time of unexpected loss.
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