Perilous things can occur. When they do, you want your home–and your wallet–protected from the subsequent damage.

What better way to keep your house, apartment, or condo covered than by securing homeowner’s insurance? It’s the single, most important protection you can you get for your home. It provides financial reimbursement for structural damages within your home and on your property.

We’ve outlined the top five reasons you need to get homeowner’s insurance now. Read on to learn more.

1.) Accidents Happen and Sometimes They Happen at Your Home

You host a birthday party for your child. All the neighborhood kids showed up. They’re playing in the backyard and running around the house. The parents came, too. Everyone is having a great time.

If you’ve been in this situation, you understand that no amount of adult supervision can prevent children from accidentally slipping, falling, and getting hurt. It seems to happen right under your nose. You could have child-proofed your entire home, backyard, the party itself. Accidents can still happen, and they can happen at your home, making you liable.

Fortunately, most basic homeowner’s insurance policies cover personal liability. This coverage can protect you from incidents that happen at your house.

2.) Lightning Strikes, Fires, and Other Perils

While most homeowner’s insurance does not cover natural disasters, it does cover what the insurance industry refers to as “perils.” These include lightning, fire, hail, wind, riots, aircraft debris, vandalism, theft, malicious mischief, and volcanic eruptions. Even normal storm events can cause damage.

For example, a minor thunderstorm rolls into town. You batten down the hatches and wait out the storm. Lightning strikes a tree in your yard and lands on your roof. Without homeowner’s insurance, you will have to cover the entire cost of fixing your roof, which can become an expensive and time-consuming repair.

Homeowner’s insurance policies also cover fire and smoke damage. While home insurance might seem like a large purchase to cover small threats like smoke, you shouldn’t underestimate these small problems. Even a little fire or smoke in the home can damage your personal items and your home’s structure.

Damage that results from any peril will be costly to replace on your own dime. Thankfully, your homeowner’s insurance will pay for your fire-damaged home to be repaired and restored.

3.) Structural Damage Coverage Protects Your Garage

You love your garage. It stores all of the family’s bicycles, your cars, outdoor equipment, toolboxes, extra refrigerators, and other critical items. It’s the place you fix broken items and create your next, big, do-it-yourself project. Because you love your garage, you want to keep it and all the items you store in it protected.

Homeowner’s insurance policies cover damage to your garage, shed, fence, and other structures on your property. The insurance plans also pays for damage to guest homes and cottages on your property.

4.) Your Temporary Relocation Is Paid For

Let’s say a major incident occur at your home, like a fire. You and your family aren’t able to live there because of the damage. As your home receives repairs, your homeowner’s insurance will cover your temporary relocation.

5.) You Get Reimbursed for Personal Items.

If a major incident damages your personal items, some of it may be recoverable. Restoration companies can repair smoke and flood-affected furniture and clothes. However, some items may be beyond restoration. In that case, your homeowner’s insurance will reimburse you for your lost personal items.

If you don’t have insurance, check with your local insurance company to see what a possible homeowner’s insurance policy covers specifically. Or if your current homeowner’s insurance policy doesn’t cover the all risks we mentioned, contact a Chicago – based service consultants firm to learn about non – standard homeowner’s insurance policies.