Most people carry homeowners insurance because they’re required to, never feeling as though they’ll really ever need it and wishing they had the ability to opt out. Of course, this requirement comes as a condition of the bank’s requirements if you’re mortgaging your home – and once that mortgage is paid off, you aren’t legally required to carry it. But should you continue to do so anyway? The best homeowner insurance advice points to yes. And one of the primary reasons may not be what you expected it to be.
Instances of burglars suing property owners for hurting themselves while in the commission of a crime have seen an increase in recent years. Although they’re rare, and on many occasions they don’t end up in a monetary windfall for criminals, enough have. And they serve to drive home the importance of always carrying a homeowners insurance policy to protect you, even if you live in a part of the country that puts you at minimal risk for natural disasters and the likelihood is slim that you’ll ever need to file a claim.
Whether your home insurance needs are compulsory or self-determined, you can get a homeowners quote online that will connect you with the most affordable insurers in your immediate area.