Why You Need Coquitlam Home Insurance
by adminYou should see the purchase of a house in Coquitlam and getting Coquitlam home insurance as things that go hand in hand. While it’s not a legal requirement to have home insurance, this doesn’t mean you shouldn’t have it. Let’s look at some of the top reasons to get Coquitlam home insurance.
As Part of Your Mortgage
If you are buying a house in Coquitlam through a mortgage from a bank, a common requirement is that you must get home insurance. Without home insurance, if your house is damaged or destroyed it will not be covered, so it is not seen as a worthwhile investment for the bank, as it will end up being a financial loss if it means you can’t afford repayments.
Make Your Own Investment Worth It
Similarly, if you are buying your home without a mortgage, then you are at risk of a large financial loss if it is damaged and you don’t have insurance. Coquitlam home insurance means that your investment is financially secure, and you won’t end up losing a lot of money.
Keep a Roof Over Your Head
Even if your home is damaged to the point that it can’t be lived in, either temporarily or permanently, Coquitlam home insurance will keep a roof over your head. This could be through providing the finances for repairs so that you can return to your home, or to find an alternative solution. Don’t risk your family being without a home; make sure yours is insured.
It’s Not Just Your Family at Risk
If an injury occurs on your property, the person who was injured could sue you for liability. If they are badly hurt, their own family’s finances could take a hit and you could be involved in a nasty dispute. The right Coquitlam home insurance will cover lawsuits due to injuries sustained on your property.
Purchasing a home and not insuring it is a bad idea by anyone’s standards. It’s such a huge investment and to lose it due to unforeseen circumstances is a huge financial hit that most people can’t recover from easily.
To get all of the benefits mentioned above book an appointment with Prime Insurance today. We are some of the leading home insurance experts in the Metro Vancouver region. A helpful member of our knowledgeable team will go through your options for Coquitlam home insurance so your finances will be protected when it comes to your house.