Surrounded by toda tu familia you insert the key, you hear that little click, and turn the knob. And just like that a new chapter begins: life in your new home. It’s now time to ask yourself two basic questions: what is homeowners insurance, and why do you need it? The answers will help you protect your family’s biggest investment!

What is homeowners insurance?

Basically, it’s like car insurance but for your home. It offers you financial protection in case something happens to your home or in it, like an accident or a disaster.

The average home insurance policy combines protection for the property – meaning the house – and liability, for example if someone gets hurt in your house. Homeowners insurance can also have optional coverages that you can add. Want to protect that shed you built last summer? Need protection for floods or earthquakes? These coverages are additional to a standard home insurance coverage.

Why do you need homeowners insurance?

My advice is to look at this way: it’s better to have it than not!

Besides, in some cases homeowners insurance could be required. Your lender might require it (just like in a car loan!). Typically, as part of the mortgage process you’ll be asked to show proof of insurance for your home. This is because the bank lending you the money wants to make sure that the investment is protected in case it’s damaged or destroyed.

Here’s another reason why it’s a good idea to have homeowners insurance: if major damage happens to your house (imagine if a tree fell on the roof), fixing it out of your own pocket could be expensive. Or if your cousin slips on the kitchen floor during a posada, that would be an expensive trip to the hospital! But with the right insurance, you would have coverage for these situations and not have to worry about such huge bills.

Come visit us at your nearest Fiesta office so we can get you the right home insurance coverage. We do the work, and you can focus on enjoying your new home with your family and friends. There’s no place like home!

– Max