subject: Do You Really Need Home Insurance? [print this page] Astonishingly enough, it is estimated that one out of every four home-owners have no form of cover as far as their homes are concerned, and considering the average home costs such a vast amount of money, it's quite unbelievable really.
After all, if your home were to be destroyed completely because of a fire, or perhaps even a flood, would you well and truly be financially capable of rebuilding it from scratch?
Home building and contents insurance is not only readily available, but it's also very affordable. People who have gone ahead and insured their property and its contents can sleep peacefully at night because they know that if disaster ever strikes, and their home gets destroyed, they may be homeless for a while, but before long they'll be able to rebuild their home and get on with their lives. Those who don't have any cover on the other hand, will be left with nothing. Imagine being in you forties and you loose everything you've ever worked for, with little, if any, chance of replacing all which you lost.
Of course if you only rent a property then there's really no need for home insurance, but there certainly is still a need for contents insurance. Perhaps you feel that you don't own a great many assets, but even the most modest of families tend to spend thousands of pounds on the contents of their homes.
If you're not convinced, go ahead and draw up a list of everything you own, and then write down how much each item would cost to replace. Don't forget the stove, the fridge, and even that Sony Play-station you recently bought. Also don't forget that set of golf clubs you own, or your son's new snowboard, your flat screen TV, and that awesome stereo system. The chance are you've spent a fortune, so wouldn't it be heart wrenching if you got home one day only to discover your rented home has been cleared out by thieves. Of course it would, but if you have suitable cover at least you'll be able to replace everything without having to take out a loan.
If you actually own the home you live in, you have even more reason to take out home insurance, considering your home itself would probably cost you no less than a hundred thousand pounds to rebuild if it ever got destroyed. Even if it wasn't destroyed, but instead, it only got damaged by a recent flood, you'd still be looking at many thousands of pounds worth of repairs.
Perhaps the floorboards will need replacing, and all those expensive wall to wall carpets. Most of your electronic equipment will more than like also be destroyed. House fires are another threat, in that no matter how careful you are, a fire can still break out, and as many people have already discovered, fires make short work of the average home. Even if your home isn't raised to the ground, fire damage is notoriously expensive to repair, and it can also be a long drawn out experience. With proper home insurance, you'd have nothing to worry about. In fact, you'll even still have a roof over your head until such time your own home has been repaired.
Sure, the chances are you'll never have to go through such an experience, but is it really worth taking a chance? Home insurance can save you from unimaginable suffering and heartbreak.
by: Tom Jones
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