You probably know that you need CT homeowners insurance if you own a home, but do you know why? It’s about more than just protecting your property.
Chances are you have a mortgage in your home like most people do. Without proper insurance, you wouldn’t have been able to get a mortgage in the first place. This is because most financial institutions and lenders require mortgagors to have some sort of homeowner’s insurance. Keep in mind that every institution has different stipulations. If you live in a high-risk area, they might require you to purchase specific insurance riders that cover these hazards. Be aware that your lender is allowed to buy insurance in your name if you fail to do it on your own. This insurance can be more expensive and provide less coverage.
Aside from the legal requirements, no homeowner should be without CT homeowners insurance. It covers so much more than just the structure itself. It also provides:
- liability coverage if someone gets hurt on your property;
- protection for you and your family;
- coverage for personal property and belongings; and
- coverage for other structures on your property, such as a shed.
Owning a home comes with a lot of liability and responsibility. Proper CT homeowners insurance can help you fulfill your legal obligations and protect one of your most expensive assets.