Some people might think that they no longer need homeowners insurance if they live in an older property and have paid off their mortgage. This is fundamentally incorrect, and the fact of the matter is that anyone can benefit from homeowners insurance, no matter how much money they might think they have in the bank. Homeowners insurance is about a lot more than just money that will help you rebuild your home. It protects your overall financial security from countless liabilities associated with owning a home. Therefore, even if you no longer owe money on the property, you can still benefit exponentially from this coverage, and you should never consider dropping it for any reason.   Understanding the Scope of Homeowners Insurance Most people think of homeowners insurance only as a policy that will help them rebuild their house following a fire, severe weather or act of vandalism. That is certainly true, but it’s only one part of the expansive benefits that a home insurance policy can offer. While you might have had to carry home insurance for as long as you had a mortgage, the fact is that these threats won’t go away just because you have paid it off. Therefore, you always want your homeowners insurance to continue to offer you the necessary financial support in case of a devastating loss of property. Plus, your homeowner’s policy can include many other benefits that aren’t related to the value of the dwelling itself. For example: Possessions insurance will help you cover the costs of damage to or loss of your belongings. It can cover furniture, electronics, clothing and countless other essential items. Liability insurance covers you in case you are accused of negligently causing bodily injuries, property damage or other harm to someone else who doesn’t live with you. This coverage will help you repay that party and cover any of your resulting legal fees as a result. Additional living expenses coverage helps you supplement the costs of dining, hotel bills and other essential services that you might have to pay if a problem occurs in the home and forces you to temporarily move out. Further benefits can help you cover pet bite liabilities, damage cleanup, accidental (no-fault) medical payments and more. Therefore, by maintaining your coverage, you are a lot more likely to reap the benefits that won’t be available if you go uninsured. Still, if you are concerned about how you can maintain coverage or rates on an older home, don’t hesitate to contact your home insurance agent for assistance. We’re happy to help you ensure that your policy continues to function optimally throughout the years. Call us today at (915) 599-2900 or visit www.MtFranklin.com to see how we can help you.

Is My Home Actually Worth Insuring?

Some people might think that they no longer need homeowners insurance if they live in an older property and have paid off their mortgage. This is fundamentally incorrect, and the fact of the matter is that anyone can benefit from homeowners insurance, no matter how much money they might think they have in the bank. … Read more

February 25, 2021

Valentine’s Day Taco ’bout Love contest.

On behalf of Mt Franklin Insurance, thank you to all who participated in our Valentine’s Day Taco ’bout Love contest. Congratulations to the winner Melissa Rodriguez.    Below are some pictures of our staff presenting our Valentine’s Day Dinner Package to the winner Melissa Rodriguez Congratulations Melissa! The prize included a dinner for two from L & J … Read more

February 19, 2021

What Factors Influence Life Insurance Costs

Getting life insurance often takes time, care and consideration. There are numerous policies on the market, and you of course want to choose the one that is best for you, both in terms of coverage and price. Still, when it comes to offering you a price quote on your plan, your life insurer will need … Read more

February 18, 2021

Can You Get a Car Insurance Discount By Working From Home?

The worldwide COVID-19 pandemic has fundamentally changed how businesses operate. To enforce social distancing necessities, countless businesses have transitioned to either full- or part-time remote work. This work from home benefits allows employees to continue to do their job from the safety of their own home.       One of the benefits that you … Read more

February 16, 2021

Health Insurance for Mental Illnesses

Millions of Americans face mental health struggles, and countless others have issues that are undiagnosed. This might range anywhere from anxiety or depression to more serious issues. However, there are countless mental health resources available within the medical community, and it doesn’t have to be overwhelming or frustrating when seeking the help, you need.   … Read more

February 9, 2021

Does Home Insurance Cover Fences and Sheds??

Your home is more than just a house. Numerous structures might dot the property—storage sheds, fences, sidewalks, retaining walls. They represent just as much of your property investment as the house itself does, and you naturally don’t want anything to happen to them. That’s why you want your homeowners insurance to cover these items to … Read more

February 4, 2021

How To Avoid Getting Rear-Ended

Getting rear-ended at a stoplight is not your fault. After all, another moving vehicle ran into the back of your stopped car. Still, even an accident that isn’t your fault might cause your auto insurance rates to rise. As unfair as it sounds, this is because you still represent a higher financial risk to the … Read more

February 2, 2021

Why Do Lenders Require Homeowners Insurance?

There aren’t many people who choose to buy their home with cash. After all, it takes years to save money for a nest egg, and paying off the entire property in one swoop might seem completely out of reach. Still, if you choose to finance your home with a mortgage, you can afford the home … Read more

January 21, 2021

The Importance of Avoiding Driving Citations

We all probably know that we could stand to be a little more conscientious behind the wheel. Still, we’re all human, and we all make mistakes. The unfortunate thing is that when we make driving mistakes, we might pay to pay the price. Traffic citations are often frustrating penalties, not just because of the inconvenience, … Read more

January 19, 2021

Why You Need Commercial Umbrella Insurance

Every business must have liability insurance, and the starting point is a general liability policy. However, while general liability insurance can prove essential to your long-term financial security, you should still not consider it a stopping point. Instead, you will likely need to buy other coverage, including a commercial umbrella insurance policy. Consider why investing … Read more

January 14, 2021

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