Why Is Homeowners Insurance Important?

There are many reasons but most importantly it will provide a financial safety net if the unexpected occurs. If something happens to your home that requires significant repairs or rebuilding, insurance can potentially cover that up to the limits in the policy.    If you have a home loan and the home is destroyed, you are still on the hook for the mortgage.  Insurance can help with that situation and pay for rebuilding if the house is insured at full replacement cost value.