What Happens Without Homeowners Insurance?

Owning your own home is very exciting, and it can also be quite overwhelming when you start to understand the many different costs involved with it. Part of the many decisions that you will have to make involves whether or not to invest in a homeowners insurance PA policy. What happens if you choose to go without a policy? You need to understand the differences between losses and recovery.

 

Losses

 

If you choose to forego a homeowners insurance policy, you run some big risks. If anything should happen to your home or possessions, you are left with the bill and the losses. Damage and losses caused by theft, fire, floods and more are left entirely up to you. If you happen to live in an area where any of these things are likely to happen, you will want to consider how much it will cost you to cover your losses.

 

Recovery

 

On the other hand, if you do have a homeowners insurance policy in place, if something untoward should happen to your home or possessions, you may be able to recover those losses through your policy. Much depends on the specific coverage you have, but you are more likely to take less of a financial loss if you have a good policy in place.

 

Understand the Risks

 

Going without a homeowners insurance PA policy is a risky game to play. Some people might think they are saving themselves the expense, but the expense of something happening to your home is much more devastating. Talk to an agent about customizing coverage for your home today.

 

photo credit: Mandajuice cc
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