10 Security Threats that Scare Homeowners

Home ownership is something many American’s take for granted and for others is just a dream. What some don’t realize is that owning a home comes with a whole new set of responsibilities and problems. This is why homeowner insurance is so important and required by mortgage holders. Here are 10 of the security threats that scare homeowners.

  1. Burglary – The first thing that comes to mind when mentioning security threats is burglary. The risk of being robbed is higher in some areas than others, but even in low risk areas, the threat is there. Many homeowners invest in security systems to prevent break-ins.
  2. Fire – The biggest threat to any homeowner is fire. Even if a fire is caught and put out, the damage to the home and its contents is devastating. Nothing can prepare you for the overwhelming loss of your home and possessions to a house fire. Smoke detectors, fire extinguishers and even sprinkler systems can be purchased to help prevent fires from consuming your home.
  3. Floods – The threat of flooding is so prevalent in most of the county that there is a national flood insurance program provided by the federal government. Since some areas only flood about every 100 years, people can live in an area for generations without knowing they have a threat. Water damage in a home is very expensive and difficult to repair.
  4. Earthquakes – Another natural disaster that threatens homeowner’s security is earthquakes. Although more prevalent in fault zones, earthquakes can happen just about anywhere and cause extensive damage to homes. People who live in high risk areas must follow special building codes to help their homes withstand minor earthquakes.
  5. Storms – Homeowners always keep a close eye on weather conditions. Hurricanes and tornadoes can cause the most devastating damage, but even a strong thunderstorm can be a major threat. Strong winds and lightening can do quite a bit of damage to your home and cause power outages.
  6. Lawsuits – Unfortunately, another big threat to a homeowner’s security is lawsuits. Anyone who injures themselves while on your property can sue for damages even if the accident was entirely their fault. People who don’t have insurance to cover awarded damages are at risk of losing their homes.
  7. Unemployment – Most people have mortgage payments that consume a large part of their monthly income. If they lose their job or are unable to work because of illness or injury, they may not be able to keep up the payments and risk defaulting on their loans.
  8. Identity theft – Another security threat that scares homeowners is identity theft. If not discovered quickly, a person’s credit can be destroyed and huge credit card bills can be racked up. Some may be forced to sell their homes to cover the costs and be unable to purchase another because of their bad credit rating.
  9. Vandalism – Something that many homeowners don’t anticipate is the threat of vandalism. Unfortunately, there are unscrupulous people who don’t have any respect for other people’s property. A broken window may be covered by the insurance, but is still a big headache to repair.
  10. Winter – People who live in cold climates need to be concerned about damage to their homes in the winter. Sub-freezing temperatures can cause plumbing pipes to freeze and heavy snows can collapse a roof. If a homeowner goes on vacation to escape the cold weather, they need to make sure the furnace doesn’t quit and let their house freeze up.

Homeowner insurance doesn’t cover all of these security threats, but can help defray the cost of most of them. It’s important to know the degree of risk for any of these threats in your particular circumstances. Home ownership can be somewhat scary, especially in today’s uncertain economic situation. Know what the threats are and take steps to prevent them to make owning your home less risky and more secure.