5 Major Reasons Why You Must Have Home Insurance

A home is one of the most expensive investments you make to guarantee your comfort and that of your family. At Peck Insurance Agency, we understand that one of the most crucial parts of being a responsible homeowner is protecting your investment with quality homeowners’ insurance. Here’s why:

  1. Satisfy your Mortgage Lender- Most banks and mortgage lenders in McConnellsburg, PA will require you to carry insurance as a condition for your mortgage. The homeowners’ insurance guarantees the protection of the lender’s investment in case the house is damaged. Lenders want you to carry home insurance to cover the amount of the mortgage. 
  2. Protection from Loss- A homeowners’ insurance covers loss or damage to your home and its content by fire, tornado, high winds, or a hail. It’s important to make sure your home is protected from catastrophic loss if a natural disaster occurs. 
  3. Protects Equity- A home will always be your single most significant investment. A homeowner’s insurance policy protects it by safeguarding its value. Equity represents your homes worth over and above the mortgage as well as other liabilities relating to your property. As you continue to make payments, renovate, and improve your home, the equity in your property increases. Homeowners insurance guarantees that if something happens to your home, you won’t be forced to begin all over again. 
  4. Disaster Assistance- If your home is destroyed or so severely damaged that you need to seek help elsewhere, your home insurance policy will pay to relocate you. The ‘loss of use’ coverage reimburses you for meals, hotels, and other living expenses.
  5. Protection against Robbery and Theft- Homeowner insurance offers protection against damage or loss caused by burglary or a home invasion. If someone breaks into your home, a homeowner’s policy will reimburse for the actual cash value of stolen or damaged inventory. 

When deciding how much homeowners insurance you need to safeguard your home in McConnellsburg, PA, please contact Peck Insurance Agency for a professional assessment of your coverage needs.