Once you purchase a home, one of the most important things you can do for yourself, a new homeowner, is to make sure you have enough insurance to cover any loss or damage to the home. While most lenders require homeowners insurance, and some may even supply their own (you’ll see this noted on your monthly or annual statements), the typical homeowners insurance plan may not provide you with enough coverage in the event of certain types of events.
A supplemental homeowners insurance plan is a smart idea, because it extends coverage to include things that traditional insurances do not. Unexpected emergency weekend repairs, for example, or a shorting in your electrical wiring, or the breaking down of your A/C unit’s compressor in the middle of a hot July day – these are all common occurrences for too many homeowners, and can be quite pricey. By choosing a supplemental insurance coverage that covers these specific issues, you won’t have to worry about loss, damage, or emergency repairs: it’s all covered.
Supplemental insurance coverage is rarely priced any higher than standard homeowners insurance, and you may find that it’s cheaper! And all it takes is one costly repair that is 100 percent covered to reassure you that you made the right choice in choosing additional coverage for your home and appliances.