When you get a home, you should make sure that you have adequate homeowners insurance. If you have a mortgage, your lender is going to require that you spend $500 to $1,000 to make sure that you can fix any damage that happens to the home. It will also provide you with financial protection in the event that anyone is injured while on your property.
Don’t Put Your Family or Your Business at Risk
If someone is hurt on your property and wins a judgment against you, the judgment could be worth thousands of dollars or more. In extreme cases, you may be forced to sell your home or other belongings to pay that amount. In the event that you have to file for bankruptcy, business assets as well as personal assets could be liquidated if you operate as a sole proprietor. In a Chapter 7 case, you are obligated to stop running your company.
The home is easily one of the biggest investments a family will ever make. However, there are all kinds of things that can put that investment in great jeopardy. For one, the weather can turn extreme and wreak all kinds of havoc on many homes, as pointed out by an April 13, 2014 MLive.com article.
The onslaught of erratic weather on parts of the Great Lakes State is bound to be a cause of worry for many people. The possibility of severe damage alone is reason enough for homeowners to get comprehensive Michigan home insurance in order to secure their homes against any type of damage, natural or unnatural.
There are different natural catastrophes that can cause damage and/or loss of property in Michigan homes. Earthquakes can topple the house from its very foundation while floods can inundate the interior, often causing irreplaceable property losses. Hail, on the other hand, can put dents in (and even punch holes through), your roof.