Re-Evaluating Your Homeowners Insurance

One common question we get asked about homeowners’ insurance is how often it should be reviewed. You should have an independent insurance agent review your policy at least once a year. That may seem frequent, especially if you’ve never reviewed your policy since you bought your home.

Reviewing your policy annually ensures that your policy is keeping up with your home and that you are not overpaying. But it is also important to contact an independent agent for a review if there have been some significant changes to your home or your personal life. Here are some examples.

You Build an Addition

Adding a room to your home adds square feet and will likely increase the value of your home. Other significant improvements may impact your coverage as well, including a major bath or kitchen remodel. Considering adding a pool or spa? Contact an independent agent to see its impact on your coverage.

Getting Married

When you get married, you are merging households, including personal belongings. You want to make sure you have sufficient coverage for your home’s contents.

You Inherit a Property

If you inherit a property, you’ll want to make sure it is properly insured for both the short and long term, should you decide to keep it. Keep in mind that home insurance rates can change depending on whether a house is a primary residence, a rental or income property, or a vacation home. Your independent agent can help guide you through this.

You Improve Security

Some companies may offer discounts for upgrading the security of your home. If you have contracted for monitored security of your home, purchased a new security and/or alarm system, or added more secure windows, contact an independent agent to see if you qualify.

Home insurance is perhaps the most neglected of all insurance coverage. You could be making unnecessary changes or even overpaying for your home insurance. If it has been too long since you’ve reviewed your homeowners’ insurance, we invite you to reach out to us for a no-cost, no-obligation review and price quote. It’s the right thing to do.