Purchasing a home is one of the biggest and valuable investments in life. Therefore, if you decide to buy a home, you also need to protect it. The best way to do it is to get home insurance. In the state of Minnesota, home insurance is not mandatory, but many mortgage lenders will not approve you for a loan without proper insurance. If you are currently shopping for home insurance, Perrine Agency Inc. prepared a list of things you should know about it:

The purpose of home insurance is to insure your home and your personal belongings in the event of a destructive event. Moreover, most standard home insurance policies are considered package policies. This means that standard home insurance also includes liability coverage for any property damage and injuries caused to others by you or your family members.

Most home insurance policies cover the following things:

• The structure of your home is damaged or destroyed by an act of nature.
• Outbuildings on your property, including a garage or shed
• Personal belongings, including furniture, clothing, and electronics. However, it is essential to know that a home insurance policy limits, so you should get additional coverage if you have costly personal belongings.
• Living expenses if your home is being repaired, and you have to stay somewhere else. This includes hotel bills, food, and gas.

Certain things are not covered by home insurance. For example, home insurance does not cover damages caused by earthquakes or floods. Therefore, if your home is located in an earthquake or flood-prone area, you may want to get special earthquake and flood insurance to protect your property.

Even though home insurance is not mandatory in the state of Minnesota, it is still good to have a home insurance policy to protect your home and your personal belongings. If you are currently looking for home insurance, contact our agency. Our experienced insurance agents will be glad to help you find a policy addressing your personal needs. For more information about the options available, feel free to give us a call or visit our office.