Buying your first home is a momentous accomplishment. Your home will probably be one of your biggest investments in life, and you want to do everything you can to protect it. At Pethel Insurance Group, serving Kannapolis, NC, we want to help first-time homeowners get educated on insurance.
Required for Your Mortgage
If your new home will have a mortgage payment attached to it, it’s most likely required by the mortgage company that you carry homeowners insurance. This is to protect the money that the mortgage company has put on the line for the home. This way, if the house is damaged or destroyed, the insurance company can pay off the mortgage on the home.
Protection for Your Financial Future
Most people think of homeowners insurance as a nuisance and just an extra expense, but this is a way of protecting your financial future. Even if you don’t have a mortgage on your home, having insurance in place is highly advisable. This is because if the house is damaged or destroyed and there isn’t insurance in place, you’d be personally responsible for paying for repairs or home replacement out of pocket. Most families could not handle this type of enormous expense unexpectedly. This can lead to homelessness.
Getting sufficient insurance in place for your home is necessary for your housing security and your financial security.
Personalized
Every home and family is different, so home insurance policies must be unique as well. The best way to figure out how much coverage you need is to talk with an insurance professional. They can evaluate the value of the home and belongings inside to determine a coverage amount.
If you’d like to learn more about home insurance, please contact Pethel Insurance Group, serving Kannapolis, NC, and the surrounding areas.
