What Can Happen If You Don’t Have Homeowners Insurance?

What Can Happen If You Don’t Have Homeowners Insurance?

Understanding the importance of homeowners insurance.  

Home insurance is a very important policy for every homeowner to have. Many homeowners don’t truly understand what home insurance does and how it can help them, which means they are tempted to skip out on quality coverage. Home insurance is designed to protect your home against disasters to the house itself or the possessions that are in the home. It can also provide liability coverage against incidents that take place on your property. So, what happens if you don’t have home insurance?

  • Catastrophic Loss

If you own your home outright and choose to go without home insurance, you are running the risk of suffering a total loss of what is probably your biggest financial asset. If your home is destroyed in a fire, hurricane, or another disaster, you will be left on the hook for repairing and recovering your home and belongings, which could total hundreds of thousands of dollars.

  • Liability

If someone slips and falls on your property or injures himself in some other way, you might be left liable for huge medical bills. Homeowner policies cover such liability claims and would foot at least most of the bill for a lawsuit involving an injury on your property. If you have no insurance, you would be left facing these expenses on your own.

  • Theft and Smaller Claims

Theft, vandalism, and more – insurance covers a lot of scenarios that impact your wallet and possessions. If you don’t have a home insurance policy and you are the victim of a burglary, you will have to write off the value of anything that is stolen.

Homeowners insurance can help you save money and protect your home from damage and disaster. Ensure that you have the optimum coverage by visiting the professionals at Gee-Schussler Insurance Agency. Our team is here to help you protect your home in Orland Park, Illinois.