Home insurance may not be at the top of your list when you buy your first home, but it really should be. After all, there is an awful lot that can go wrong with a home, and most of it is very expensive to fix.
The day you move into your first home is exciting. You have probably spent months, if not years, building up to this moment, as well as saving up an awful lot of money to make the down payment. A home is likely to be the biggest purchase you will ever make, so now is the time to protect your investment by looking into California homeowners insurance. So, what can possibly go wrong?
Storms occur with monotonous regularity every winter. Strong winds, heavy rain, several feet of snow, and ice can all cause significant damage to a property. Gale-force winds can lift roof shingles or tiles, causing holes and allowing water to find a way into your home. The wind can also fell trees, walls or fences, causing structural damage. If you are unlucky enough to live in tornado alley, you might end up with a pile of rubble instead of a home. Could you afford to rebuild without home insurance? No, of course you couldn’t.
Fire damage ranges from a small hole in the living room carpet where a stray spark from the wood burner flew out, to total devastation wreaked by a massive blaze. The worst-case scenario is that you are lucky to walk away with nothing but the clothes on your back.
Fire is bad enough, but smoke is just as damaging. Smoke gets everywhere, even rooms where the fire didn’t reach. Once soft furnishings and carpets are permeated with thick, noxious smoke, they will need to be replaced. The only way you will be able to afford to replace all of your electrics, furniture, carpets, and soft furnishings, is by claiming on your insurance.
Even a small leak can cause a lot of damage. Often, pipes begin to leak silently, un-noticed behind walls or under floorboards. It’s only when the ceiling collapses or you arrive home one day to find the floor under water that you realize there is a problem. A good home insurance policy will pay an emergency plumber to rectify the underlying cause, before paying out so you can clear up the damage.
Nobody likes to think that an intruder has been in his or her home, but it can and does happen. The problem is that intruders rarely leave without causing damage, even if it’s only a broken window. If they steal your precious belongings, it’s even worse.
Don’t underestimate the expense of accidental damage. Imagine how much damage there would be if the dog chewed up your oak floor in a fit of boredom. Could you afford to replace it? No, probably not.
Insurance may feel like an extra expense you can’t really afford, but if you need to make a claim, you will be glad you had the foresight to buy a comprehensive policy.