Personal Liability Insurance: What Happens When Someone Gets Hurt on Your Property

When you invest in your own home, and choose to not take out Mass home insurance , you risk losing your house and the possessions inside of it. A fire, theft, hurricane, or another tragic event could happen. Most likely, your lender will require you to purchase some form of home insurance to protect their investment in the event the home is damaged or destroyed unexpectedly. Once your loan is paid in full , it is at your discretion to keep the insurance or not. However, you leave yourself open to paying for costly damages if you decide against it.

You might want to make sure that you insure your home for the replacement costs, rather than the actual cash value of it. You must take into consideration that value changes overtime, as building costs rise and additions are made. Some of the most common types of home insurance are basic, broad and special.

• Basic provides coverage for fire and smoke damage, wind and hail damage, as well as vandalism and damage caused by misconduct.
• Broad provides coverage for falling objects, structural collapse and weight of snow and ice damage.
• Special provides coverage for structure and all of its contents.

Determining what kind of coverage and how much coverage is adequate can be a confusing task. Individuals who are interested in learning more about Mass home insurance can contact one of our experienced agents.

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