Is It Important to Have Home Insurance?
One of the main costs of owning a home, on top of monthly mortgage payments, property taxes, and maintenance expenses, is homeowners' insurance. Some new homeowners wonder if home insurance really is all that important, and established homeowners who haven't needed to make a claim can begin to wonder if they should keep their policy.
The home insurance brokers at Kitchener's D.A. Kurt Insurance Brokers Ltd often tell clients home insurance is important both because it fulfills the terms of your mortgage contract, and because it provides protection for your investment and belongings.
Home Insurance and Your Mortgage Contract
If you have a mortgage, then skipping out on Kitchener home insurance simply isn't an option. Lenders, because they have such a big financial stake in your home, want to make sure that their investment is properly protected.
Some lenders may require you to show proof of homeowners' insurance before finalizing your mortgage contract. If you do not secure a policy for yourself, then the lender might either cancel your contract or place a policy on your home for you. You can find far more affordable rates, however, through your own Kitchener and Waterloo insurance company.
Coverage for Your Home and Your Belongings
Home insurance in Kitchener isn't important just because your lender requires it. It is also one of the best ways of ensuring your own financial security and peace of mind.
The biggest advantage of having homeowners' insurance is that your policy will cover the costs of repairing or rebuilding your home in the event of serious damage. Fire, extreme weather, vandalism, and break-ins can damage the structure of your home beyond what you would be able to afford paying out-of-pocket for. Damage caused by events covered under your policy will be paid for by your Kitchener and Waterloo insurance company.
As a homeowner, you have to worry about not only the structure of your home, but about all of your belongings as well. Homeowners' insurance will cover any belongings which are stolen or which are damaged by an event covered under the policy, such as a fire. Bundling your Kitchener home and auto insurance together is a great way of making sure that your vehicles are protected as well.
Looking for Home Insurance in Kitchener or Waterloo?
Your home is likely the biggest investment you will make in your life, and, if it is well taken care of, it's value will likely increase after you buy it. Home insurance in Kitchener from a Kitchener and Waterloo insurance company such as D.A. Kurt Insurance Brokers Ltd & Financial Services is one of the surest ways of protecting your investment.
D.A. Kurt Insurance Brokers Ltd & Financial Services has been providing renters', home, and auto insurance in Kitchener and Waterloo for over 50 years. We believe that our experience will allow us to find the right homeowners' insurance policy for you.
Contact us today if you'd like to speak to one of our qualified Kitchener and Waterloo insurance brokers.