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Why You Need Homeowners Insurance

Your home is your place of refuge, where you feel safe and where you experience some of life’s best moments. You want to do everything you can to protect your home so you can protect the people inside of it. In order to protect your home, you need to consider it an asset and find a homeowner’s insurance plan that has the right coverage you need without breaking the bank. Youngbar Agency specializes in listening, collaborating, and offering solutions. Let us help guide you through choosing the right insurance policy for your needs — contact us today!

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What is Homeowners Insurance?

If you own a home, congratulations! This is a huge step in your life, and being one of the most important milestones in your life, you’re going to want to make sure you protect your investment. Homeowners insurance helps provide financial protection for your home and personal belongings so when things go south, you’re not on your own trying to figure things out for yourself.

On a standard level, homeowner's insurance is made up of coverages that may help you repair or replace your home and belongings should they be damaged by certain perils, including fire and smoke, lightning strikes, explosions, theft, vandalism and malicious mischief, falling objects, and more.

Why You Need Homeowners Insurance

You Can Protect Your Personal Belongings

When you purchase homeowners insurance, you have the option of creating an up-to-date home inventory to expedite a claim settlement if you ever need to make one. You and your insurance company can verify your property easier, and you can even verify losses for your income tax return with an updated home inventory list. All you need to do is make a list of your possession and describe each item, like the make and model, and where the item was purchased. If you can, be sure to include receipts, purchase contracts, and appraisals if you have them.

When creating the list, include high-value items like jewelry, artwork, and collectibles. Take pictures of your important items and even take a video recording of your home walking through it, being sure to record each room as well. This may seem like a lot of extra work, but these steps go a long way in protecting your possessions and your home. While losing any of your possessions would be a bummer, it would be an even greater loss if you’re the one that had to spend the money to replace them.

Your Home Is Protected From Loss

Should your home ever be affected by natural disasters or perils that are outlined above, the coverage on your home policy helps pay for repairs and replacements. No matter if it is a small portion of your home or the entirety of your home, you don’t have to dip into your emergency savings fund to cover the cost of repairing your home.

It Is Required By Your Mortgage Lender

Homeowners insurance, unlike auto insurance, isn’t a state requirement, but typically needed when you’re financing a house. Home insurance guards your lender’s investment from loss or damage caused by covered risks like fire or vandalism. The minimum amount of homeowner’s coverage will depend on the amount of your mortgage, but if you fail to remain adequately insured, then your lender may purchase a homeowner’s policy in your name and add the payments to your monthly mortgage tab.

It Offers Peace of Mind

When you know you’re protected, you’ll be able to sleep a little sounder and go through your day with the confidence of knowing that you have a safety net if anything should happen to your investment. Homes are no small purchase, and you probably put a lot of money into purchasing one. If anything should happen, it’ll feel good knowing that you protected yourself from paying out-of-pocket expenses, and ensuring that you didn’t lose any of the value you’ve earned over the years.

Get Youngbar Agency on Your Side

At Youngbar, we work closely with our clients to ensure that you are getting the best insurance plan that fits your unique needs. With coverage you can depend on, you can protect your:

  • Additional Structures - Like detached garages, workshops, and other types of structures.

  • Personal Liability - If someone is injured on your property, you’re covered, and we’ll handle the potential associated medical costs.

  • Personal Property - Your countless treasures, personal mementos, and valuable possessions can be compensated if the unthinkable happens.

  • Dwelling - This refers to the actual structure of your home. From the floors to the walls to the ceilings, your home is covered.

We leave the cookie-cutter approach to homeowners’ insurance behind, providing each client with a customized and detailed plan that works best for them. We have your best interest in mind and want to help keep you protected. Contact us today to learn more, or to inquire about our additional insurance options, like car insurance, umbrella insurance, life insurance, health insurance, and more!