Homeowners insurance is a good thing to have in order to protect your investment. In the case of an unfortunate event, homeowners insurance can cover not only the home, but also your personal belongings that are kept inside the home. This does not just include the items that are sentimental in nature. These policies also cover the furniture, clothing, appliances, and everything else inside the home. Additionally, homeowners insurance covers the structure of the home as well. In the case of a fire, for example, a good policy will cover damages as well as the cost to rebuild the home.
If you do not yet own a home, you can opt for renters insurance which works much the same except it only covers your belongings. It does not cover the structure of the home or apartment since you are not the owner, and will not be responsible for the damages to the actual home or apartment. At the same time, the owners insurance does not cover the renter's belongings inside the property which makes it a good idea to purchase your own policy separately.
Pennsylvania law does not require you to purchase homeowners insurance or renters insurance, depending on your situation. However, if you are purchasing a home, the mortgage lender may require that you carry homeowners insurance to protect both you as the buyer and themselves as the lender. At the same time, the owner of the home or apartment you are renting from may require that you have renters insurance before moving in. In these cases, the requirement comes from the mortgage agreement or rental contract and is binding.
If you are in need of homeowners or renters insurance, or simply want to purchase a policy to protect your home, it is best to work with Heffers Insurance Agency to get the right policy and coverage for your needs.