The Importance Of Property Insurance

sbi property insurance

The Importance Of Property Insurance

The basic goal behind buying insurance is to make you financially whole following a loss. You agree to pay a (relatively) small fee to an insurance company today, causing a small butcertain loss to you now, in exchange for a guarantee from the insurance company that it will bear the burden of a large but uncertain loss in the future.

Let's say that you have a house that you own, free and clear - with no insurance. As long as you continue to pay your property taxes. you have every right to enjoy the use of that house for as long as you like, as guaranteed by law. You may live there, rent it out, leave it vacant or even sell it if you like. However, if that giant tree in the back yard falls on your house causing severe damage. it is still up to you to cover the cost to repair the house. This is the basic reason to carry property insurance... http://quote-insurance.ucoz.es/news/sbi_property_insurance/2013-06-25-3658