Here’s When You Need to Review Your Home Insurance Coverage

Whenever you make changes to your lifestyle and home, you should review your homeowners insurance policy. By doing so, you can save money in the form of discounts. However, if you don’t review your insurance policy, you might be left with inadequate protection should a thief steal your valuables or a disaster damage your home.

Listed below are instances when it is wise to review your home insurance policy:

You’ve Remodeled Your Home

If you’ve added a master bedroom suite, updated your older kitchen, or completed a large remodeling job, it’s advised to call your home insurance agent. This is due to the fact that a major remodeling job could increase the value of your home, thereby making it more expensive to rebuild, in case a disaster strikes. 

After a remodel, you may need additional coverage to ensure that your policy will pay for the rebuild of your residence which is now more valuable. 

You’ve Bought Big-Ticket Items

Your home insurance will provide you with coverage for the loss of valuables inside your home if it’s stolen. However, if you’ve purchased expensive artwork, electronics, jewelry, or other big-ticket items, you should reach out to your insurance agent. Ensure that you have enough coverage for the replacement value of these expensive items. You could risk coming up short if you don’t update your insurance policy.

You’ve Stopped Smoking

While kicking the smoking habit is a good move for your health, it can also save you money through lower payments towards your home insurance. If you don’t smoke, your insurer might reduce the premiums of your policy. The chance of a fire destroying or damaging your home is higher if you smoke. Thus, if you’ve stopped smoking, you should ask your insurer if you’re eligible for a lower premium.