When it comes to taking care of your home, there is a lot to remember. While you may be focused on the leaking pipes, drafty windows or worn carpets, be sure to give your home insurance a review.
If you do not update your policy regularly, you could miss out on some substantial discounts and overlook glaring coverage gaps. The policy protects your home and finances when you need it the most!
Below are four situations in which reviewing and updating your home insurance policy is imperative!
- Buying a Home
Coverage for your new home is a must-have. Make sure that you are insuring the home for the value you want, such as the home’s estimated reconstruction cost rather than its current market value. If you are renting, be sure to receive renters If you a moving to a disaster-prone location, ensure that you have earthquake insurance and flood insurance policies.
- Remodeling Your Home
Whether you’re re-doing the kitchen, adding a new deck, or simply adding double-paned windows, if the home renovations increase your home’s value, then your home’s rebuilding cost is increased. This expense should be reflected on your home insurance policy.
- Buying Valuables
When purchasing anything of great value, such as an expensive TV or a pricy necklace, give your insurance agent a call. Home insurance policies protects valuables against a covered loss or theft, usually only up to a certain limit.
- Made Life Changes
Certain life events can change your risk of accidents or damage. For example, if you have recently retired or quit smoking you may be offered ways to save money on your current rate.
Many homeowners tend to forget about their policy coverage, assuming that it will cover the property whatever the circumstance. However, neglecting the policy could lead to coverage gaps and unexpected out-of-pocket costs. Talk to an insurance agent at Scavone Insurance Center for your White Plains, New York home insurance that suits your needs, home, and budget!