What Can Happen If You Don’t Have Homeowners Insurance Coverage?

Consequences of Going Without Homeowners Insurance 

If you have a mortgage on your home, your lender will most likely require you to have homeowners insurance in Valatie, NY to protect their investment in the property. If you own your home outright, chances are, you aren’t required to have home insurance. Although you may save money every month, you are missing out on serious protection. If you choose to go without insurance, what are the consequences?

Your property has no protection

If your home is damaged by a fire, hail, windstorm or vandalism, you are on your own for repairing and replacing your property. If your valuables are stolen from your home or while you are traveling, you will have no protection that can reimburse you for their cost. Without home insurance, you leave your property and belongings exposed to all kinds of risk. From minor water damage from a burst pipe to a destructive fire to theft, home insurance ensures your investment and assets can be recovered.

You live without liability cover

There’s no denying it, we live in a litigious society. Homeowners have a unique risk when it comes to liability. They may be held responsible if someone is injured or their property is damaged while visiting. Believe it or not, but homeowners can also be held responsible for trespasser’s injuries. Without liability coverage, you are left exposed to paying for medical bills, rehabilitation expenses, and even legal defense if the injured decides to sue you for negligence.

Homeowners insurance is a safety net for your finances. Not only does it protect your assets, but it offers you quality peace of mind that your home and belongings are safe. When you value your home as much as you do, why leave it exposed to risk?

With the right home insurance agent, you can find quality coverage for your needs. When you’re looking for homeowners insurance, contact your insurance professionals at Kneller Agency. Our dedicated experts are ready to assist you with all your home insurance needs.

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