Your home is your castle, and many homeowners take that luxury for granted. On occasion, however, the unexpected happens. A freak event can turn your life and security upside down, but this situation is when homeowners insurance can be a huge help.
If you feel like you need a checkup on your homeowners insurance policy, stop in to see the Lake Region Insurance Agency team. With offices in Willmar, Cokato, and New London, MN, we are readily available to help.
As the name suggests, homeowners insurance is a type of property coverage that protects you against loss and damage to your residence. It can cover exterior and interior damage, as well as personal assets in your dwelling.
It also can provide coverage if someone sustains an injury while at your house. Each policy comes with a liability limit that indicates how high your coverage will go in a claim. Let’s look at the protection a homeowners policy gives you.
Do you own a home? Then yes, you need homeowners insurance. And if you have a mortgage on your house, it is likely a mandatory stipulation from the lender. Most mortgage providers require that you have homeowners insurance as long as the loan is in place. They will not lend you the funds until they have proof of your policy.
Many homeowners are under the mistaken impression that their homes have protection under mortgage insurance, but this is not accurate. Mortgage insurance has nothing to do with covering your property.
There is another benefit to a homeowners policy. If you cannot live in your home for some time due to extensive damage, your policy may cover the cost of alternative housing. This help during an anxious time is significant.
Homeowners insurance should be a priority for anyone who owns a house. It offers protection, reassurance, and peace of mind in a stressful situation. Call Lake Region Insurance Agency today for a free quote on your Minnesota homeowners insurance policy. We’re here to help.