loader

What Can Happen If You Don't Have Homeowners Insurance?

Mar 29, 2019

How to & Tips

What Can Happen If You Don't Have Homeowners Insurance?

Consequences of Forgoing Insurance

If you're a homeowner, then you willknow how important homeowners insurance inRenton, WA to protect your property. If youdon't know how insurance can help you, then you may be tempted to skip out onsecuring coverage. Although most mortgage lenders require homeowners topurchase insurance, if you own your home outright, you may not be required toget coverage. If this is the case, what happens if you don't have homeinsurance?

  • Catastrophic Loss

If you own your home outright andchoose to go without home insurance, you are running the risk of suffering atotal loss of what is probably your biggest financial asset. If your home isdestroyed in a fire, hurricane, or another disaster, you will be left on thehook for repairing and recovering your home and belongings, which could totalhundreds of thousands of dollars.

  • Liability

If someone slips and falls on yourproperty or injures himself in some other way, you might be left liable forhuge medical bills. Homeowner policies cover such liability claims and wouldfoot at least most of the bill for a lawsuit involving an injury on yourproperty. If you have no insurance, you would be left facing these expenses onyour own.

  •  Theft and Smaller Claims

Theft, vandalism, and more ' insurancecovers a lot of scenarios that impact your wallet and possessions. If you don'thave a home insurance policy and you are the victim of a burglary, you willhave to write off the value of anything that is stolen.

Are you ready to find the right home insurance policy? Visit the professionals at Humble & Davenport Insuranceto get started on your tailored home insurance.

Types of Claims Arising from Defective Products: Insights and Analysis
Types of Claims Arising from Defective Products: Insights and Analysis
Why Cyber Insurance Claims Can Be So Costly?
Why Cyber Insurance Claims Can Be So Costly?
Insights into Product Liability Insurance: Coverage Scope and Importance
Insights into Product Liability Insurance: Coverage Scope and Importance
Everything About Commercial Trucking Insurance that You Must Know
Everything About Commercial Trucking Insurance that You Must Know
The Top 5 Coverage Options for Contractors
The Top 5 Coverage Options for Contractors
TAP TO CALL