Homeowners insurance is a critically important tool for protecting family homes against a variety of potential mishaps that might cause costly damage or complete destruction. A house is the single largest investment most homebuyers make and the most valuable asset that they have. The following helps to explain what makes this insurance so important to obtain.

Your belongings, including high-value items, like artwork, jewelry, and antiques, might be targeted by burglars. According to The Zebra, a popular insurance comparison tool, more than half of the nation's 2.5 million break-ins every year happen in private homes. Other perils also might lead to the loss of valuable belongings, including fire, flood, or severe weather. Depending on the type of policy, homeowners insurance could replace your belongings or reimburse you for their loss.

The single greatest reason to obtain homeowners insurance is to protect your family's home against a partial or total loss. Suppose a covered peril were to damage your home, such as an accidental fire that burns up the kitchen. Your insurance policy likely will pay up to policy limits to replace your kitchen and make your home whole again. The same goes for other covered perils that might strike your home.

Most people obtain mortgages to pay for their family homes. Mortgage lenders require insurance protection for those homes to protect their loan investments. When you buy a home, you also need to buy and maintain suitable homeowners insurance so the lender knows it is protected against financial loss. Otherwise, the lender likely will charge an additional fee for forced insurance, which is costlier than a homeowners policy.

Depending on where your home is located, it might face perils that are unique to that locale. For example, homes located near fault lines would need earthquake insurance. Homes that are in federally designated flood zones need external flood insurance protection. You might be in a locale where high winds and hail commonly damage homes. Wind and hail coverage can help to protect against such perils that are highly common in some locales but not in others.

You can call, submit an online request, or stop by our office to obtain a no-obligation quote on homeowners insurance . At Monument Insurance, we help homeowners obtain the best insurance rates and protection for their needs.