The Importance of Property Insurance | Erich Merkner

Property insurance is one of the most important types of insurance for homeowners and businesses alike. It protects your property from damage or loss due to a variety of perils, including fire, wind, theft, and more.

While the cost of property insurance varies depending on the value of your property and the amount of coverage you need, the peace of mind that comes with knowing your property is protected is priceless.

Here are some key benefits of property insurance:

It protects your home or business from damage or destruction

As a home or business owner, one of your most significant worries is probably the possibility of your property being damaged or destroyed. The thought itself is enough to keep you up at night. While it’s impossible to eliminate the risk of your property being damaged or destroyed, an insurance cover can help you financially if it does happen. It will cover the cost of repairing or rebuilding your property up to your policy limit.

It covers your personal belongings

Your home is not just a structure – it’s also full of your personal belongings. If your home is damaged or destroyed, your belongings will likely be damaged or lost. Property insurance will help you replace them. Most policies cover personal belongings at a certain percentage of the coverage limit for the structure of your home.

It covers additional living expenses

If your home is damaged or destroyed and you can’t live there while it’s being repaired or rebuilt, property insurance can help by covering additional living expenses, such as the cost of a hotel room. This coverage typically kicks in after you’ve been displaced from your home for a certain period of time, such as 30 days.

It protects you from liability

If someone is injured on your property or if you damage someone else’s property, you could be held liable. Insuring your home or business properties can help by covering the cost of repairs, medical bills, and legal fees up to your policy limit. This type of coverage is essential even if you have a small home or business, as the cost of a liability claim can quickly exceed your savings.

With all of these benefits, it’s clear to see why insuring your property is so important. If you’re a home or business owner, ensure you’re adequately protected by purchasing a policy that meets your needs.

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About Erich Merkner

Erich Merkner was born and raised in Indiana, and has had an interest in commercial, residential, and industrial construction for as long as he can remember. After completing his carpentry apprenticeship at the local 599 Indiana Kentucky Ohio Regional Council of Carpenters (IKORCC), Erich went on to continue his education at the Ivy Tech Community College, wherein he graduated with an Associate's Degree in Applied Science, where he majored in Construction. He's been certified by the U.S. Department of Labor, and has been in the trade for quite some time.

Erich Merkner has also found a home in Real Estate in addition to his love of Construction. He immediately began purchasing and investing in big properties, but quickly switched his focus in Real Estate to assess and work with the gap in the market regarding Green Initiatives. This is where Erich learned that he can invest in and construct incredibly eco-friendly households that are a better quality, rather than purchasing a new house. Erich jumped into the prospect of renovation and rehabbing a new house, thanks to his extensive background in carpentry. His main goal is to get a house to a 100% energy-efficient rating by combining and harnessing different energy sources in the home. This, in turn, saves people more money and hopefully generates an energy surplus. Erich is passionate about sustainable living, and constantly promotes the idea that electric companies should compensate consumers to adding to the energy grid.