Better Homeowners
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Home Insurance: Protect Your Investment - 9/10/2025

If you're buying a home—or already own one—home insurance might not be the most exciting part of the process. But it is one of the most important.

In many cases, home insurance is required to secure a mortgage, but even if it weren't, having the right coverage in place protects one of your biggest financial investments. It's not just about meeting lender requirements—it's about safeguarding your future.

Protection Against the Unexpected

Home insurance helps you recover financially if disaster strikes. Whether it's a fire, storm, or burglary, insurance can help you repair, rebuild, or replace your home and belongings. Some policies even provide protection if someone gets hurt on your property or if you're faced with a liability lawsuit.

Support During Displacement

If your home becomes temporarily unlivable due to a covered event, insurance can help with additional living expenses, like hotel stays and meals, while repairs are being made. That means one less thing to worry about during a stressful time.

Choosing the Right Coverage

Homeowners can choose policies based on how much coverage they want:

  • Actual Cash Value: Pays what your property is worth now, factoring in depreciation.
  • Replacement Cost: Covers the cost to replace items with new ones of similar kind and quality.
  • Extended or Guaranteed Replacement: Offers a buffer or full coverage to restore your home completely, even if costs exceed the original policy limit.

Knowing your options helps ensure you're covered the way you want to be—not underinsured when it matters most.

A Resource Worth Reading

For a helpful guide, check out the Homebuyers Insurance Handbook, created by the Insurance Information Institute and the National Association of REALTORS®. It walks you through what to look for in a policy and how to determine the right amount of coverage for your situation.

What Does Homeowner's Insurance Typically Cover?

  • The structure of your home
  • Personal belongings
  • Landscaping or property features
  • Medical payments for guests
  • Liability protection
  • Temporary housing expenses

Whether you're closing on your first home or reassessing your current policy, home insurance offers peace of mind, so you're prepared for life's "what ifs." It's not just about protection; it's about confidence in your investment.

Michael Selvaggio CCIM, CRS, GRI Delaware Homes Real Estate Townsend, DE (302) 584-5590 Licensed in Delaware for over 48 years Mike is a Certified Instructor with the Council of Residential Specialists, an affiliate of the NATIONAL ASSOCIATION OF REALTORS®, and served as the 2008 National President of the Council of Residential Specialists, 2017 National Director, 2018 Regional Vice President, and other positions. He has taught thousands of REALTORS throughout the United States, Italy, Japan, Korea, Canada, Spain, and the Bahamas. He has taught in every state in the U.S. except two. Selvaggio was named REALTOR of the Year in 1990 for the state of Delaware. In 2023 he was named CRS of the Year for his region. He has served as President of the Delaware Association of REALTORS and President of his local board. Mike has been published internationally and continues to write articles and instructional DVD and CDs. Selvaggio opened his own real estate company, Delaware Homes, in 2007 and now has three locations serving all of Delaware. He has been a REALTOR® in Delaware since 1976. Contact Me Visit my Website Send a Referral Subscribe to Newsletter