Are you a homeowner in the Green Valley, AZ area?
The Insurance Center of Green Valley can provide the coverage you need for your most valuable asset.
Why is it important to have this coverage? It protects the home and personal property. In the event of a total loss, insurance becomes the primary source of the funds needed to rebuild. It will also provide liability coverage for any legal action resulting from injuries or damage to your property by another person.
One of the most critical aspects of homeowners insurance is the level of coverage. The most common coverage level is HO-2, which protects against 16 events outlined in the policy.
“My home is paid for. Why do I need homeowners insurance?” If someone is injured on your property, or if a weather event causes damage to your home, any associated costs will need to be paid by you out-of-pocket. These resulting costs can sometimes be relatively high and can result in the loss of a home or create financial ruin.
If your home has a mortgage, the lender will require you to have enough insurance to protect their investment in the property. They will also require that they be listed as the property’s lien holders.
If you allow the insurance to cancel, the bank will obtain a force-placed insurance policy on the property, which is quite costly, to protect them against any possible risk of loss.
The most common type of coverage is replacement cost coverage. It pays to repair or replace your property. The insurer will pay you for the repairs or to replace your property.
If you are a homeowner, you will need this important coverage. The Insurance Center of Green Valley can provide this. Contact our office today.