If you are among the 70% of residents who own a home in Utah, home insurance from Fabco Insurance Agency LLC is a worthwhile investment to protect your prized investment. While you may have installed security features in your home, there are risks that you can’t lock away from your home. For instance, if hail were to strike, no amount of security system would keep your house safe. For this reason, you must consider home insurance if you want to protect yourself, your loved ones, and your home.
When is home insurance mandatory in Utah?
Legally, homeowners don’t need to purchase home insurance. However, if you have bought your house through a mortgage, your lender may require you to purchase home insurance to protect the investment. But whether home insurance is compulsory or not, every homeowner must invest in this coverage.
Home insurance policies
If you want to invest in home insurance, you must familiarize yourself with different coverage options. These include:
- Dwelling coverage: It covers your building structures against perils like fire, hail, vandalism, and falling objects (such as a tree). When your house is damaged by a peril listed in your policy, your insurer compensates you for the loss, lessening your financial burden.
- Contents coverage: Your clothing, electronics, fixtures, and furniture mean a lot to you, and that’s why you need home insurance to protect you when the worst happens. Like dwelling coverage, contents coverage compensates you for the loss or damage occurring to your assets.
- Liability coverage: This coverage protects you by paying for third-party expenses when accused by others of inflicting bodily injury or property damage.
- Loss of use: If a risk included in your home insurance policy makes your home unlivable, this coverage pays for the additional living expenses (like hotel food and accommodation) until your house is ready for occupation.
Ready to invest in home insurance in Utah? Please get in touch with Fabco Insurance Agency LLC for a quote.
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