Why Is Homeowners Insurance Important? 
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 homeowners insurance policy does . In exchange for a premium , the company agrees to handle lawsuits , and repair and reconstruct your home . 