Knowing you are protected in case of a catastrophic loss is one of the main reasons why home insurance is worth it in the long run. A few examples of situations that may lead to catastrophic loss include hurricanes, wildfires, flooding and tornadoes.
Low Cost and High Importance
In most cases, the probability of a catastrophic loss is relatively low. This means that you can likely secure a good insurance policy for an affordable rate, especially if you live in an area that is not prone to natural disasters. Moreover, keeping a higher deductible allows you to save money on your monthly premium while still remaining covered in the event of a serious catastrophic loss. This low-cost policy provides instant peace of mind and may potentially save you hundreds of thousands of dollars down the line.
