Risk Factor

Not having home insurance exposes you to significant financial risks, including the cost of repairing or replacing your property after damage from events like fires, theft, or natural disasters. Additionally, without liability coverage, you could face substantial expenses if someone is injured on your property and holds you responsible. Finally, lacking insurance could limit your ability to secure a mortgage, as most lenders require borrowers to maintain adequate home insurance coverage.

Solution

Purchase a home insurance policy: Obtain a suitable home insurance policy that covers the potential perils your home may face, such as fire, theft, and natural disasters. Make sure the policy includes liability coverage to protect you in case someone is injured on your property.