You probably wonder why you need home insurance, whether you’re in Palm Desert, CA, or Guildford, ME, especially as it’s not a legal requirement. It’s not like you’ve ever had a major accident at home before. But imagine one day you have a contractor coming to quote for a job, you happen to drop a glass, the contractor gets cut and they sue you. Your home insurance would cover you for that with liability insurance.
It will also keep you protected if you have a leak and suffer any damage from that, or if your house is struck by lightning, or any other natural disaster, your home insurance will have your back. If your house ends up being left uninhabitable your insurance will offer financial aid to live elsewhere, or if you rent out part of your house you’ll also be offered compensation for loss of earnings.
Should any other issues occur causing damage to your personal belongings or if you’re unfortunately subjected to a break-in and your items are stolen, your home insurance company in Palm Desert, CA will offer you the cost of your belongings. Offering between 50-70% of the costs, the percentage would be agreed upon between yourself and the insurer when setting up your policy.
If your house does end up damaged, any standard home insurance policy would cover the costs of building material replacement, and where the materials can no longer be replaced with the same materials, they will be replaced with the available equivalent.