Homeowner’s Insurance

Whether you own or rent your living space, insurance on the structure and your belongings is essential. Homeowner’s insurance is a somewhat vague label encompassing various types of specific risks such as flood, fire and earthquake (although these are not always included) and more often, vandalism and theft. To the extent that your home and the belongings you store in it are more valuable to you than the cost of a homeowner’s insurance premium, you should have such a policy. Ditto for renters, who can and often should purchase renter’s insurance on the belongings stored in their apartments. At a minimum, you can expect homeowner’s insurance and renter’s insurance policies to protect you against harm done to your living space by others. Clearly, where you live also influences how urgent the need for these types of policies are. Those living in known high crime areas, for instance, would be downright foolish not to have a good insurance policy on their homes.