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While purchasing insurance policies upfront may seem like an unnecessary cost, that protection can actually save you thousands down the road. For homeowners, this is especially important as homeowners insurance can be there to protect you when you need it most. Phillip Kent Beck Agency has been serving the Archdale and High Point, NC, for years. Here, the team explains just how not having insurance can cost you big bucks down the road. 

How Not Having Insurance Can Be More Expensive

1. You Never Know When the Unexpected Will Happen

No one ever thinks disasters will happen, but they do when you least expect them to. Without insurance coverage, you'll be responsible for paying for the costs completely out of pocket. For fire damage to your home or a water leak that spread quickly, repairs can easily cost upwards of thousands of dollars. And, for catastrophic losses, an insurance policy will be there to help pay to get back on your feet instead of wiping your bank account clean. 

2. Have General Liability Insurance Protection

insuranceWhen you own a home, you're responsible for any injuries or damages that happen on your property. Although many people assume no one would ever sue them or hold them liable, it happens all the time. If your child's friend got injured in your backyard, you could have to pay tons in legal fees and have to pay the full medical costs if you're held responsible. Having general liability coverage can save you thousands in the case that something does happen. 

3. Maintain Consistent Coverage for Better Rates

There are a lot of factors that go into determining your insurance rate, but if a company is concerned that you're going to need to use your policy immediately, it could up your costs. By consistently having insurance policies, you're showing insurance companies that you want coverage all the time, not just when you might need it—and that can give you a better rate. 

If you're part of the Archdale or High Point, NC, community and looking for quality homeowners insurance, visit the trusted team at Phillip Kent Beck Agency. The team provides a variety of insurance policies from small business to general liability insurance, so you can find all of your coverage in one place. And, with a priority to help each customer understand what is covered, you can rest easy knowing you're in good hands. To learn more about what is offered, visit them online or call (336) 434-2111 to set up your consultation today.   

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