Would you consider yourself to be a risk taker? Most of us would probably answer no! As human beings, we like to keep ourselves and the ones around us safe and protected all whilst enjoying life to the fullest without putting anyone or anything in harm’s way.
But if you’re one of the thousands of people who don’t have or believe in the need for home insurance, then you could be taking a huge unnecessary risk without realizing it. Many people avoid taking out home insurance policies because they believe them to be either not worth it or simply too expensive – despite the ability to compare house insurance prices online to find the very best price – it’s amazing how so many homeowners simply don’t think that the worst could happen.
In this post, we’ll explore the dangers of not having home insurance – and ask yourself can you afford not to have it?
Storm Damage Nightmare
We’ve all been exposed to a variety of winter storms lately, from high winds and dangerous weather conditions to flooding and nights without electricity. If you’re one of those homeowners who have their property damaged as a result of a storm, such as branches damaging your roof, flooding through the lower levels of your house, or damage caused to your chimney, then you’ll need home insurance to cover the cost of the clean up operation, repairs, and replacements.
If you don’t have home insurance then you’ll be left with a hefty bill and an even bigger task on your hands as you try to clean up after Mother Nature.
Vandalism Costs
There’s a lot of petty crime out there, unfortunately, our homes aren’t exempt from damage from those who wish to inflict it. Whether your front door has been damaged, your windows smashed, or even your front gate broken, if your home has been vandalized, then your home insurance will cover the costs of the repairs and provide replacements.
Without home insurance in place, you’ll be left to pick up the pieces once again and pay for all the repairs and damage yourself. Something which could take time as well as money. Not forgetting the mental impact of having your home violated and your personal space completely invaded.
Never underestimate the power and negative influence that this event could have on you or your family’s mental health. At least if you have home insurance in place, you’ll spend less time on the phone dealing with the fallout and trying to work your way through the financial quagmire and you’ll get to spend more time with your loved ones, supporting each other instead.
Theft Replacements
If you don’t have home insurance and you’re unlucky enough to be burglarized and have your belongings stolen, then not only will you have to deal with the psychological damage of this but also the cost of replacing these items. And if you’ve been left with TVs, laptops, game consoles, jewelry, watches, and other expensive items, then this could be financially crippling for you and your family.
When you have home insurance in place, your contents cover will cover the cost of replacing any items that were stolen. Giving you peace of mind and time to come to terms with what has happened.
You May Have Nowhere to Go
If your home is rendered uninhabitable due to storm, flood, or fire damage, then you may be able to claim and take advantage of alternative accommodation cover that is offered as an extra with home insurance policies. Having somewhere to go while you’re home is being repaired will take the weight off you mentally and fiscally, so it’s certainly worth the additional cost!
Having this simple add-on means that you and your family can carry on with some sense of normality whilst reputable contractors work on your home and your insurance company sorts through all the paperwork of your claim. Your kids can still go to school, you can carry on working and your home will be in safe hands.
However, if you don’t have home insurance or any additional coverage, would you be able to cover the cost of a hotel stay as well as the repairs on your home? Do you have friends and family who would be willing to help and support you during this time? These are all important questions to ask yourself if you’re dubious about taking out home insurance!
Final Thoughts
Ultimately, the real question here is can you afford not to have home insurance? If you’re not a gambler or someone who enjoys taking risks then it makes sense to look into a home insurance policy that will give you total peace of mind. Start comparing home insurance quotes as soon as possible to keep you and your home protected – and don’t forget to explore potential add-ons that could be beneficial to you and your family.
