Every homeowner should carry insurance on his or her house. If you have a mortgage on the home, you will be required to insure by the lien holder. However, even if you have paid the house off, you should always carry homeowners insurance. Here are some things that homeowners insurance will cover for you.

1. Accident and Liability Coverage

No one is immune from a lawsuit. Lawsuits happen every day, and, many times, you cannot foresee them. You might have had some children over to play when one of them breaks their arm on your trampoline, and the parents then sue you for the medical bills. Another thing could be a delivery man dropping off a package at your house who slips and falls on the ice and injures themselves. The company that he works for may come after you for not having your walkways clear. To make sure you're covered in these and other cases, you should always carry homeowners insurance. It will be the best way to save yourself financially if you were to be sued.

2. Loss of Use Costs

If you get a full service plan, you'll probably have something in there that covers additional living expenses and loss of use. This means that, if you were to have a gas leak in your home and could not stay in the home for a couple days, your insurance provider could help pick up the tab on your temporary housing, like a hotel room. This is because they know that you might not be able to afford housing at two places while the house is uninhabitable, so they help with the costs.

This clause may not cover all reasons for loss of use. For instance, if you are not covered for earthquakes, and an earthquake leaves your house uninhabitable, then you probably wouldn't get compensation for the hotel.

3. Loss of Personal Property

Many people think that home insurance only covers the structural part of the house. Although this is a major part of what the insurance does, it is not the only coverage that you get. The policy should also cover your belongings inside the house. For example, if your grand piano is damaged in a house fire or your electronics are stolen from a home robbery, you could access your policy to get replacements for these items.

Talk to an agent like those at Ronald H. Krupa Insurance Agency to learn more about homeowners insurance and what it covers.