What is Homeowners Insurance?
Owning a home is a life goal for many Massachusetts residents. However, owning a house comes with risks and responsibilities. Purchasing a comprehensive homeowners insurance policy can help provide financial protection against many of the risks you may face, providing security for your home investment.
A policy like this provides two separate types of protection: property damage and liability coverage. While this insurance is not legally required in Massachusetts, it is protection that almost all homeowners should have. For many, it will be required by a mortgage company or other lenders. Even when it is not required, homeowners should consider the financial ramifications of property damage and liability lawsuits. If your home has a devastating fire, how will you rebuild? The right policy can provide significant protections.
Though covered to your policy limits, valuable items such as antiques, jewelry, and artwork may need additional coverage depending on their value. Your agent can help you determine if you need to purchase this additional insurance.
If your home suffers serious damage requiring you to vacate, your policy may be able to help with living expenses while repairs are made. Your agent can advise you on what coverage options are available for you when you are choosing a policy.