insurance agency lexington ky

Reasons to Get Home Insurance

As a homeowner, it is your responsibility to protect your property. One of the ways to do it is to get home insurance in Lexington, KY. It is one of the best things you can do to protect your largest investment.

However, some people think they’re wasting their money on it since they’re paying for an uncertain cause, such as property damage that may never happen. But, you should know that having an insured home will not only safeguard it from damage, but it’s also a great investment since you can get many advantages from it, too! Here are some of them:

Mortgage Requirement

If you’re planning to apply for a mortgage in the future, having a homeowner’s insurance policy beforehand can save you from all the hassle. This is because most lenders require their borrowers to submit proof that their property is adequately insured.

Lending institutions and banks usually put up 80% of a property’s value in cash, which is why they want borrowers to have an insured property. However, if your home isn’t insured yet, your lender may buy the insurance for you. But there’s a possibility that it’ll only cover the person who bought it, and it can be more expensive.

Financial Security

This type offers an extensive policy where you can protect not just the building itself, but also your other belongings from theft, natural disasters, and other causes. The insurance may help cover other parts of your home, such as your garage, fence, and shed.

This gives you financial security since the policy can also help you replace your possessions. Carefully read your policy because there’s a great chance that you’ll get the equivalent amount of money you lost.

Less Stress

Knowing that you have an insured property can give you the peace of mind you always need. You won’t have to stress too much about the condition of your home in case something happens. There’s no need to worry about how you can afford to replace or fix anything in your home!

You can avoid any unexpected financial problems since your home’s insurance can cover you. That’s why you have to regularly check your policy to make sure that your coverage is always up-to-date. This way, you can be safeguarded from any event that may damage your home.

Keep Your Home Safe

Your home’s number one role is to protect you and your family. That’s why it’s best to have property insurance as soon as you can. Having one is a good thing, and Nicholson Insurance can help you with it!

We offer home insurance for Lexington, KY residents. We also have different policies to help you determine what suits you best. Reach out to us today, and we’ll get the protection your home needs!