Homeowners insurance will financially compensate you if the structure of your house and its contents are damaged by adverse events like natural disasters or fires.
Mortgage lenders require homeowners to get insurance during lending agreements. So, if you’re in the market for a mortgage, getting the best homeowners insurance is a must.
But for many, property crime is one of the central motivators in getting homeowners insurance, and it’s a form of crime more prevalent than you might expect.
Property Crime Statistics In America
A data analysis of 2019 property crime statistics shows some 1.58 million burglaries occurred in the United States, as well as 5.71 million home thefts reported.
Dividing the number of homes that were victims of burglary or theft by the total homes in the nation, we found the odds of being a victim of property crime is 1 in 37 in America.
Broader in scope than crime alone: the likelihood of natural disasters, the propensity for someone to trip and fall on your property as well as the chances a tree from your property landing on a neighbor’s home or car are all valid reasons for considering homeowners insurance.
Homeowners Insurance Quiz
True or False: You leave the water running in your bathtub, causing a flood into your neighbor’s condo below. Homeowners insurance isn’t helpful because plans will only cover damage to your condo unit and not your neighbor’s.
False: Many homeowners insurance policies will cover the damage sustained to both you and your neighbor’s living spaces.
True or False: Protecting your home with security features like cameras, motion lighting and deadbolt locks is helpful and can give peace of mind, but unlikely to yield premium discounts on homeowners insurance policies.
False: By installing security measures around the perimeter and interior of your home, you are in fact likely to receive discounts on your insurance premium. Because homeowners insurance financially compensates you should your home be damaged, it would make sense that insurance companies would like to reward behaviors and decision-making that may deter damage from occurring in the first place, wouldn’t it?
Best Homeowners Insurance 2020
Our full guide on the best homeowners insurance policies for 2020 can also give you more information on the best plans for homes new and old.
We can even help you find how much homeowners insurance costs in your hometown, and compare coverage options simultaneously.
No matter where you live, explore the best homeowners insurance in 2020.