By Madison Bortfeld
Homeowner’s Insurance is not required in Washington state but in most cases, you are required to purchase homeowner’s insurance by your lender or mortgage company. In fact, Homeowners insurance can be a lifeline for your home and standard of living in case of accidents. From 2017-2021, about 97% of all homeowners’ claims were caused by property damage each year, with wind and hail being the top contributor.
We may be able to take measures to protect our homes from theft, water damage, fire & lightning with certain precautions, but hail and wind can be difficult to protect against. The best way to protect your home is to purchase homeowners insurance, so when the unthinkable happens, you are financially prepared.
In just a 4-year time period from 2015-2019, $921,236,400 in homeowners claims were made in Washington State alone. If insurance wasn’t here to save the day, that would be a lot of money lost for Washingtonians. To break things down, each year:
- About 1 in 20 insured homes has a claim
- About 1 in 35 insured homes has a wind/hail property damage claim
- About 1 in 60 homes has a claim due to water damage/freezing
That would be at least one person per block of homes in a neighborhood, or even just your street. If you’re in need of Homeowners Insurance, we are here to help. Ensure you have peace of mind with a strong and personalized portfolio that can weather any storm, anytime. Contact us today, so you can set sail with confidence for whatever life has in store.
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Resources:
https://www.iii.org/fact-statistic/facts-statistics-homeowners-and-renters-insurance
https://www.iii.org/article/commercial-general-liability-insurance#:~:text=A%20Commercial%20General%20Liability%20(CGL,business%20operations%20or%20your%20employees.
