Personal Home Insurance
Your personal home is probably your biggest asset and you would take every step to ensure its protection against any possible damage. Home insurance policies guide you a solution to this problem. After your retirement you can put all your worries regarding your property to rest by purchasing a home insurance policy. Just pay your home insurance premium and the rest is taken care of.
What does Home Insurance Mean?
The security of your homes might be threatened by natural disasters or by an accidental fire. Such an accident not only threatens the lives of your family members but also causes damage to your home. As a senior, you may panic under these circumstances, because any threat to your house may mean the loss of your only major asset. But if you are a home insurance policy holder you do not need to worry about the consequences of such an accident. The homeowner’s insurance coverage will take care of the financial losses you may otherwise incur. So you are assured of the safety of your home even after retirement
What do the statistics say?
A poll conducted by the Insurance Research Council for the year 2006 revealed that about 96% of homeowners in the US have opted for homeowners insurance. Most mortgage lenders require homeowners to take out home insurance policies. About 43% of renters availed the home renter’s insurance policy.