Nevada state law does not require a homeowner to carry homeowners insurance, but if your home is financed through a bank or other financial institution then you may be forced to carry homeowners insurance as part of your mortgage agreement.
But even if you are not forced to carry homeowners insurance it really makes good financial sense that you would want to insure what is probably your biggest asset plus a homeowners policy also covers the possessions inside your home.
With a homeowners policy your home and your possessions are insured against many types of natural disasters (though it is important to note which types of natural disasters are excluded, such as flood and often wind damage) as well as being insured against burglaries and injuries to others on your property.
One of the biggest mistakes many Nevada homeowners make is to underinsure their homes. According to recent statistics, almost 25% of all Nevada homeowners do not carry enough homeowners insurance to replace their home and its contents if it were destroyed.
With home prices higher overall today than they were just a few years ago, it is important for homeowners to review their...
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