Why should I get home insurance?

I'm not required to get home insurance, but my family is strongly recommending I do. Why should I get it? It seems like it's just an extra cost.

Answer
“If anything happens to your home, a home insurance policy protects it just like car insurance. Your family is definitely giving great advice by recommending it.
Your insurance will typically payout up to your policy limit to cover damage, such as from a fire or windstorm. Without home insurance, you are taking on all the risks. Any damages or expenses that occur are paid out of pocket. This includes paying your mortgage or loan, even if your home is lost.
Beyond protecting your home itself, home insurance also offers other coverages. This includes:
  • Other structures (like a detached garage or shed)
  • Personal property
  • Liability
  • Loss of use
  • Medical payments to others
While home insurance may seem like an extra cost, it’s important to have. Even having some insurance is better than none. You can request quotes from various companies or your current car insurance company to see what the cost would be. You may be able to bundle a home policy with your car insurance to save some additional money.
If your car insurance company doesn’t offer home insurance, you may want to switch to a company that does. Research which companies offer both types of policies. Next, use the Jerry app to compare car insurance quotes and add your home insurance policy.”
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Emily Maracle
Answered on Sep 09, 2021
Emily Maracle is a car insurance specialist living in New York. Originally from the Pacific Northwest, she has a degree in English Literature and a background in customer service. She enjoys cooking, gardening, and living sustainably. In the future, she can't wait to upgrade to a hybrid or electric car.
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