Why Is Homeowners Insurance Important?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    When you own a home you assume certain risks.  One risk is that you are responsible if anyone is hurt on your property.  Another risk is that your home could burn or be destroyed in one of several others ways.  Under either scenario you loss might exceed your ability to absorb. Perhaps you have taken a mortgage to buy the house and as soon as it is destroyed you must make full payment.  These are a couple of the things that a homeowner’s insurance policy does.  In exchange for a premium, the company agrees to handle lawsuits, and repair and reconstruct your home.
    Answered on March 17, 2014
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