Thunderstorms, lightning, burst pipes, fallen trees, fire, ice — the list of things that could potentially damage or destroy your home is endless. Your home is likely your most valuable possession, and homeowners insurance protects it from the unexpected.
It also protects what's in your home, so if your furniture is damaged in a kitchen fire or your television is stolen, your insurer can help you replace it. And if you don't own your own home, renters insurance can still protect your belongings.
Think about all those hours you spent turning your house into a home. Perhaps you invested in creating a little veggie patch in the back garden or gave up your weekends to renovate the perfect kitchen. Maybe you had to fight off other buyers to come out on top in the property market.
Without homeowners insurance, one disaster might require you to dig into your savings to clean up the mess, or be left without a way to fix the damage if your savings can't cover it. The dwelling coverage in your homeowners insurance policy makes sure it doesn't come to that in a worst case scenario.