How Important Is Homeowners Insurance?

  1. 21750 POINTS
    Jim Winkler
    CEO/Owner, Winkler Financial Group, Houston, Texas
    That's a great question! Let's answer it this way: How would you be financially if you purchase your home, take out a big mortgage to pay for it, buy new furniture and appliances to fill the house, get all of your belongings in it, and then it catches fire and is gone? Would you be able to start from scratch and repay the mortgage? Or how about if a visitor fell down some steps in your home, and had to be hospitalized. Would you be able to pay the bills and possible law suit damages that you are liable for? These are two really good reasons why homeowners is important, and most lenders will not sign off on your mortgage unless their investment is protected somehow. I hope that helps you decide to insure your home. Thank you for asking!
    Answered on May 9, 2014
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