If you're a first-time homebuyer, the purchase of a house is likely one of the biggest financial transactions and most important investments you've ever made. As such, you should protect this valuable asset by obtaining reliable homeowners insurance. Here are a few benefits of securing this coverage.

Why Should You Get Homeowners Insurance?

1. Comply With Mortgage Terms

Most lenders require buyers to purchase homeowners insurance before they approve a mortgage loan. If you skip this critical step, you can be denied the money needed to acquire the home. This requirement isn't intended to discourage buyers or add to their list of expenses; it is meant to protect both the lender and buyer since the house itself is the collateral for the loan.

2. Protect Belongings

homeowners insurance

Homeowners insurance covers the main dwelling and the belongings inside it, as well as any other structures on the property, like a garage or shed. If a natural disaster, fire, or theft occurs, the policy pays for the repair or replacement costs for all covered items, up to the policy's limit and minus your deductible. By securing this coverage, you know your home and property are safe and that an unforeseen mishap won't result in significant financial loss.

3. Defend Against Lawsuits

One often-overlooked aspect of homeowners insurance is the liability protection it offers. If someone is injured on your property, they could sue you for damages. Your policy can help cover the cost of mounting a legal defense. If you're a dog owner, the coverage will pay for all or a portion of medical treatments and legal costs if your pet bites or attacks someone, even if it's not on your property.


Enjoy these benefits of homeowners insurance for your new residence with a reliable policy from Coastal Insurance in Washington, NC. This agency serves clients throughout Beaufort County. They'll work with you to find the coverage that meets your needs and budget. Call (252) 940-1791 to request an insurance quote, or visit them online to learn more about this independent agency.