A home remains single largest investment most people ever make. However, it can be quite risky. This is because homes are damaged daily in the US. Earthquakes, fires, flash floods, tornadoes, and hurricanes can completely destroy or damage even the strongest structures. If you have a home, you need to get insurance for home owners. In this way, you are insured against losses in case anything bad happens.
Why you need it?
Unlike medical or automotive insurance, people are not oblig
ed to buy homeowners insurance. However, for people that have mortgage loans, the lender is likely to insist you get some form of protection. In fact, they will need adequate insurance to cover outstanding loan balance. This is not the only reason to get homeowner insurance policy.
If you are a starter, you need to know that homeowners insurance provides protection more than just physical structure. In fact, it protects contents therein. Therefore, if your personal belongings get damaged during a disaster, or get stolen, you can file claims for compensation. Usually, standard policies offer about 50% of the property value. For example, if you have insured your property for up $300,000, the coverage you get for personal belongings is $150,000.
Liability Protection
The majority of homeowners are not aware of the fact that this type of insurance includes liability protection. It provides compensation if a person is injured or hurt on your property. For instance, if a messenger slips and breaks his arm while walking up the stairs, this liability protection will pay for the medical expenses. Also, it covers court costs and ensuing lawsuits. According to experts, it is recommended to carry at least $100,000 of this insurance.
Reimbursements
In fact, you can get reimbursements for extra living expenses. Sometimes, unthinkable things happen, and the policyholders need to get ready to have reimbursement coverage. This is part of the package that is utilized 
when your home sustains a lot of damage and is considered unlivable. For instance, if there are a flood or fire and the homeowner has to find another form of housing, you will need to apply for the reimbursement for extra living expenses.
The insurance provider then pays for part or all expenses until the house is rebuilt or repaired. You will be reimbursed for expenses on food, hotel bills, car rental fees, or rent. A standard policy provides a reimbursement of up to 20% of property coverage. From all this, it is necessary to insure your abode.