According to Comfy Living, the percentage of U.S. homeowners who have insurance for their homes is 85%. Carrying an adequate home insurance policy is a key part of responsible home ownership. Without insurance, you can be held financially responsible for any damage to your home. Protection from liability is another important feature of any home insurance policy. Continue reading to learn more.

1. Your Home's Value Will Typically Increase Over Time

Without proper insurance, the equity that you've built in your home could be at risk. With the right home policy that's reviewed and updated when necessary, you can protect your home and the equity that you build up over time. Additionally, when you apply for financing, your lender will require you to carry a certain amount of protection for the entire life of your loan. And, even if you pay cash for your home, it's still important to have a robust insurance policy providing protection.

2. Protection From Damage and Loss Due to Covered Events

A covered event is anything that is included in your insurance protection. These events can range from fires to theft to having a tree fall on your house. Every policy is different, so be sure to review yours to see that it has all the protection you want and need. If your home is damaged and you experience a loss, such as having your clothes ruined in a fire, your policy will provide compensation. This means that if your items are lost or stolen, you won't have to pay to replace everything.

3. Home Insurance Provides Liability Coverage

Liability protection is often associated with businesses and commercial enterprises. It's also something that's important for all homeowners. If someone is injured at your home, you could be held financially responsible. This can mean anything from having to pay for medical expenses, to being responsible for financial damages awarded to the injured party. No one wants to have to deal with a lawsuit from a visitor to their home! When you have the right policy in place, your insurance company can provide the protection necessary to avoid an unwanted situation.

Is it time for you to get home insurance or review your current policy to ensure completeness? We are here to help! Give us a call at Oliver Insurance Agency, Inc. or stop by our office today and find out more about our services.