1. Protect What You Own
It takes a lot of energy to make the many decisions (both big and small) to create your home the way to your unique taste and preference. And, it most probably did not come cheap.
While no insurance can reimburse you for the time and effort spent, a good home insurance policy can restore your home back to what it was and what it’s meant to be by reimbursing you financially for any loss suffered from fire, water damage and other covered events.
2. Protect What Others Own (When You’ve Caused It)
This is important because of one reason – you are liable. It’s not your fault that an accident such as fire damage happened but it is your liability if your neighbour’s home was damaged because of the fire.
On top of that, being financially responsible by insuring your liability is an act of being a good neighbour!
3. Support For Alternative Accommodation
Restoring a damaged home requires time and while you will want it to be done quickly, it is something that can’t be rushed.
Meanwhile, you will still need a place to stay and having an insurance to cover for the costs of alternative accommodation during this difficult period is a big stress relief.