Infomation By Ann Hills / Mar 2019 Too many people around the world, buying a home is one of the most crucial investments that they can ever make. It costs effort, money and time. Therefore, it only makes sense to insure it fully after purchase. This can be accomplished by investing in some home insurance. It provides you with a safety net in case any misfortune falls upon your home. Here are some more benefits of investing in home insurance.Your home is protectedThis is the main benefit of getting home insurance. It provides coverage for your home in the eventuality of any damage that could be incurred. If your home goes up in flames, gets damaged by hail or gets struck by lightning, the home insurance will pay for repairs. In most cases, this is 10% of the amount of money that you’ve insured it for. The majority of home insurance policies also cover detached structures around your home. Examples of these structures are the garage, patio, garden shed or aviary. By covering these structures, home insurance ensures comprehensive peace of mind.The premiums are quite affordableIt is possible to get a good home insurance policy that has pocket friendly monthly premiums. In comparison to other insurance policies, home insurance is usually not as expensive. However, the cost of premiums and the overall value of the policy are heavily dependent on the type of home that you have. Some homes are worth millions. For such abodes, the insurance premiums can be astronomical. However, for most houses, the premiums are within financial reach. Therefore, it is always a good idea to inquire about the home insurance policy that is applicable before purchasing a home.The home is covered for burglary and theftIt can be mortifying if your home gets broken into. Thankfully, home insurance covers theft. If you suffer a burglary and lose your precious possessions, the Home Insurance NI can pay you back a sizable amount. The amount of money which you are paid depends on the value of the items which were stolen. If you lost some household appliances, the compensation may not be substantial. However, if you lost jewels, you can expect to be paid back a hefty sum. It can also assist with conducting repairs to any damage that was caused to the structure.You are covered against general lawsuitsWhat if a guest gets hurt in your house and decides to file a lawsuit against you? If you have some home insurance, there’s no need to worry. It covers you from paying any medical fees or even lawyer fees. In this capacity, home insurance covers general liability for you. By accomplishing this, it covers injury to any guests, technicians and even pets that may get injured in your house. This can help to save you a lot of time, stress and money. It can also show that you are a responsible host.It pre-qualifies you for most mortgagesThe majority of mortgages usually require that you have homeowners insurance. It is required as protection for the property in case of any hazards. The lender usually makes this requirement because your house acts as security for the mortgage loan. Due to this fact, it is important that the house be covered. In any loan, the security should be in good condition. A home insurance policy ensures that your house stays valuable over the long term. Therefore, if you have already secured this insurance prior to approaching a lender for a mortgage, you are already pre-approved.You’re covered in case of natural disastersIf your house is damaged due to a natural disaster, the home insurance provides ample coverage. Examples of such disasters are floods, fires tornadoes and earthquakes. These occurrences normally occur unexpectedly. Therefore, it is always good to have some coverage. This is especially advisable if you live in an area that is prone to such hazards. As you buy a house in such a place, make sure to get some coverage. The home insurance policy will help pay for the damages which are incurred. In doing so, you are able to save money.Your house gains valueA house that’s covered by home insurance is more valuable when placed in the market than one which is not. Home insurance is like an additional, attractive feature for your house. The buyer knows that by having this insurance, you maintained the home responsibly. Furthermore, it reduces the hassle of investing in new insurance. That’s because the policy is simply re-issued to the new owner after purchase. In this way, a home insurance cover makes your house more attractive to buyers by giving it an intrinsic value.Any temporary housing expenses are coveredAny temporary housing expenses are coveredIt provides you with incentivesA home insurance policy can provide you with some financial incentives. For example, if you install security equipment in your home, you can enjoy 25% discounts on your premiums. Also, this type of coverage provides long term benefit. For example, you can hold on to a home insurance policy for up to 5 decades. Throughout this time, it will provide you with coverage and protection from a wide range of calamities and inconveniences.FlexibilityThere are various types of home insurance policies. They have varying levels of coverage. As such, you can pick what is most applicable to your home. In this way, there is ample flexibility in terms of cost, coverage and benefit. There’s something for every pocket. Alongside a house, it is always a great idea to invest in some home insurance. This policy can provide a good safety net against a wide range of misfortunes, inconveniences and damages to your house. There are many benefits of having some home insurance. Some of these are described above. Investing in this type of insurance can pay great dividends over the long term. Essentially, home insurance is an asset on its own.