Why Home Insurance is Still Necessary After Paying Off Your Mortgage

Congratulations on paying off your mortgage! As you celebrate this big milestone in Oklahoma City, OK, you may wonder if home insurance is still needed now that your loan is paid in full. The answer from Hexis Insurance is an emphatic yes!

Why You Need Home Insurance After Paying Off Your Mortgage 

Home insurance covers more than just the property itself; it also includes personal possessions and liabilities. Should someone be injured on your property, or if something happens to your belongings, homeowners insurance can help cover the costs associated with any claims.

It Helps Cover Unexpected Events

Accidents can happen anytime, and they’re never cheap. Your homeowner’s policy not only helps protect against damage caused by fires, storms, and other natural disasters, but it also protects against theft and vandalism. Even if you live in a safe neighborhood and take all possible precautions to safeguard your home, things can still go wrong. 

It Can Help Boost Your Credit Score

An active homeowner’s policy can help boost your credit score over time! This is because when lenders look at potential borrowers’ financial histories, they like to see evidence that borrowers are taking steps to protect their assets (like their homes). So, having an active homeowner’s policy on record could give lenders additional confidence that you are responsible for managing finances—which could lead to better loan terms down the line! 

Give Us A Call

Keeping an active homeowner’s policy after paying off your mortgage provides peace of mind, knowing that should something unexpected happen at home—or even outside of it—you have a reliable fallback plan. Hexis Insurance is proud to provide Oklahoma City, OK  with home insurance plans tailored to suit their individual needs and budgets. Reach out today if you have any questions.