Smart homeowners know that it is important to review their insurance policies from time to time. This can help you make sure that you have the right coverages for your home. If your policy doesn’t include all the necessary coverage, it could leave you exposed if something were to happen. But don’t worry! We’re going give you a checklist of what things should be on your list when reviewing your homeowner’s insurance policy so there are no surprises down the road.
Many people don’t review their insurance policies every year because they’re unsure what changes to expect, but it’s important for homeowners to do so. They usually have liability coverage or medical payments which help protect against lawsuits or expenses incurred by an injury on company’s premises as well as coverage for damage from weather events like rain, hail, or hurricane.
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Check Your Policy to Make Sure You Have Enough Coverage for the Items in Your Home
What items are covered in your home? The best way to know for sure is to check the coverage of your current home insurance policy. If you have any doubts about if or how much something will be covered, ask! Write down all the items that should be on this list so you can do a better job reviewing and making changes as needed. In most cases, coverage doesn’t include valuable collector’s items such as artworks or antiques unless they’re specifically mentioned inside your house insurance policy.
Review Your Deductible – If It’s Too High, You May Want to Lower It or Raise It
If you have a higher deductible, it will lower your monthly premium. However, if something is stolen or damaged and the total cost to repair is less than what your deductible would be then you’re on the hook for the full amount of damages. If this sounds like an issue for you, consider lowering your deductibles so that even small incidents are covered by insurance coverage.
Ask About Discounts Based on Things Like Safety Features or How Long You’ve Been with the Company
One example of a good question to ask is if discounts are available for homeowners who have fire safety features in their homes. This could be things like smoke detectors, sprinklers, or deadbolt locks on the windows. Homeowners should also find out what kind of discounts they can get if they’ve been with the company for many years and how often rate increases occur over time.
Another good question to ask is if the company offers discounts for homeowners who have security systems or smoke alarms installed.
The last thing to check is how much of your coverage you’re using up each year and what kind of deductibles might apply to specific claims like fire damage or liability claims from slips & falls within your house? These deductible amounts can range quite drastically based on which type of claim it may be so it’s important to be aware of these limitations.
If you’re not sure if your coverage is up to date, reach out and we’ll be happy to help.
Finally
If you are wondering about house insurance, don’t worry! Our quoting hours are Monday through Friday from 8:30 AM to 5:00 PM. You can also request a quote online and we will take care of the rest while you save money on your premiums with our We Handle All the Work policy!
Robert Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953. Oyer, Macoviak and Associates are vested members of the community who are committed to doing business face-to-face and being your insurance advocate in times of need.
