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3 reasons why property insurance is so important

Why is it important to have property insurance? Our homes are our castles, where we live, thrive and settle in to watch that new series on Netflix. But it can take just one day of extreme weather or one letter from the council to take away that feeling of security. Here are three key reasons why property risk solutions, including the appropriate insurance policies, can be so valuable.

Reason #1: Because things happen in life

Let’s face it – from floods, to fires, to finding out that a previous owner built part of your home illegally without prior approval, owning property can come with its fair share of risks! The right property protection insurance can provide cover for if, or when, the worst happens. For example, home and contents insurance could cover flood damage, while a title insurance policy could cover remediation expenses for illegal works built by the previous owner.

Reason #2: Insurance could make a real difference to every family’s financial future  

Whether a family is small or large, one significant change in circumstances can really change plans for the future. Imagine working hard for decades and having your hard-earned assets threatened by circumstances outside of your control. Unfortunately, situations such as mortgage fraud or uninsured damage can sometimes set families back years.

Before these possibilities occur, it’s worth thinking about suitable property risk solutions. Title insurance could potentially cover against mortgage fraud and identity theft relating to your property, or finding out you can’t live at your new property because it hasn’t been zoned for residential use as you thought. Meanwhile, house and contents cover could protect against dramatic water, fire, vandalism or hail damage so you won’t need to spend years catching up.

Reason #3: Insurance can provide peace of mind 

Put simply, the right insurance policies can reduce stress and help you to enjoy a sense of financial security. You can rest easy knowing the worst possibilities have been pre-empted and that there’s appropriate cover in place if the worst ever happens. You can open your mail knowing you can submit a claim if a zoning or encroaching structure issue is raised, and focus on building financial security for you and your family. You can really sit back and enjoy that Netflix series! This kind of peace of mind can be priceless, and it’s why the right property insurance is so important.

Title insurance policies can be taken out for residential, commercial, rural and vacant property with First Title. Our policies are also easy to arrange, with a simple one-off premium that remains active for as long as you own your property. Get a quick quote, or request cover now.