Homes are expensive, from the upfront cost to the cost of repairs down the road. If you want to protect your Arizona home, The Southwest Financial Center offers home insurance policies that can help.
While some types of insurance are entirely optional, home insurance is somewhere in the middle. You aren't required to have home insurance by Arizona law, but most mortgage lenders will require you to carry home insurance until you've paid off your mortgage. If something happens to your home and you're unable to make repairs or continue paying your mortgage, home insurance helps protect the investment of mortgage lenders. Once your mortgage is paid off, you may choose to cancel your home insurance.
For some people, home insurance isn't required. If you've already paid off your home, you aren't required to carry home insurance. However, every homeowner should carry home insurance whether they're required to or not. A reasonable monthly premium can save you from having to pay out of pocket for expensive repairs, whether you need to have your roof redone or your siding repaired. When something happens to your home, and you have home insurance, you must file a claim with your insurance company.
One important thing to keep in mind regarding home insurance is that floods and earthquakes aren't covered. If you want coverage for floods and earthquakes, you'll need to purchase separate insurance policies for that coverage. Depending on where you live, flood insurance may be a requirement. For more information about flood insurance and areas where it's required, you can visit the FEMA website to look at a map of flood zones.
Owning a home is a big step in life, so make sure you protect your investment with home insurance. If you're looking for home insurance that will protect your Arizona home from perils, get a free online home insurance quote from The Southwest Financial Center today.