Why Do You Need Home Insurance?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    Most people buy home insurance because it is required by their mortgage company.  A home is often the largest single investment made by a family.  It also represents the largest risk that a family can assume.  Anyone injured on your property can sue you for personal liability or property damage.  You are vulnerable.  The home is often your largest asset.  If the house were to be destroyed, your loss would be substantial.  Since you depend upon your home as a place to live, if it were destroyed there would be considerable additional expenses to find suitable lodging.  There are many other reasons but it just makes common sense to insure such a significant asset.
    Answered on May 20, 2014
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