Why do I need Home, Condo or Renter’s insurance?

Why Do I need Home , Condo or Renters Insurance

   
 For most people  it’s where you live and where most of your possessions are, and if you’re a
 homeowner, chances are it’s your greatest asset.  But whether you own or rent, home insurance
 covers more than possessions and assets. Here are a number  reasons you need this protection.

Mortgage lenders require it.
If you take out a loan to buy your home or refinance, lenders require insurance to protect the dwelling. 

It can be a financial safety net in a disaster.
Do you have the financial resources to repair or replace your home and its contents in the event of a fire or major damage? Even mini disasters like lightning strikes; heating, plumbing or other home system failures; theft or vandalism can create significant financial hardships. 

If you rent, your landlord’s policy will not cover your personal property.
The insurance policy that covers the building where you live does not cover your possessions inside the dwelling. A renter’s or tenant’s policy protects your personal possessions including furniture or electronic equipment, in case of fire, theft and other perils. 

If you own a condo, the condo association’s policy does not cover your personal property and generally the interior of your condo.
The condo association’s master policy generally covers the exterior walls and not any personal property. A condo policy protects your personal possessions in case of a covered loss such as fire, theft, etc. 

Sometimes bad things do happen.
Accidents can be as financially devastating as a fire. If you’re found responsible for unintentionally damaging property or injuries caused to someone that occur on your property or elsewhere, you need liability protection to pay for medical and other related costs. If you rent, this is an extremely important standard part of a tenant policy. 

There are special items you want to protect.
If you own special jewelry, silverware, fine art, antiques, electronics or other valuables, you can protect these items by adding special extended coverage endorsements to your home insurance policy.

   
  The bottom line on needing homeowners and renters insurance is that if you can’t financially afford to
  cover a loss on your own, then you can’t afford not to be insured. Insurance can be complex but our  
  trusted associates guide you and make it as simple as possible.

            To learn more about Home, Auto , Renters & Business Insurance, visit

            www.promarketinsurance.com , call or text us at 469-340-2630