Requesting a review of your homeowners insurance policy will ensure that you aren’t paying too much for your policy. It will also ensure that you are sufficiently covered against a variety of incidents that could destroy your financial security if you had to pay for them out of pocket. A review will show you where your policies’ weak areas are and what you can do to make them stronger.
Personal Liability
Many people don’t think about personal liability until someone is injured on their property. Without sufficient personal liability coverage, you would be responsible for paying all of the person’s medical bills, as well as their lost wages if they were off of work for any length of time. Whether it was a slip and fall or a tripping incident, it can be rather costly for you, even if it was just an accident.
Dogs and Pets
If you own a dog or pet of any kind, you need to find out if your homeowners insurance coverage will cover any liability associated with them. This can include slip and fall accidents, dog bites, scratches, or any other type of personal or property damage that can be attributed to a pet. Dogs are not the only culprits. Cats, snakes, and other animals can also be responsible for injuries or property damage. If you don’t know if this type of event is covered, you should talk to your agent.
Home Improvements and Upgrades
Any time you improve your home with renovations or upgrades, you increase its overall value. This is also true if you have purchased large-ticket items like state-of-the-art appliances, new furniture, valuable jewelry, and antiques/collectibles. As soon as you decide to upgrade your home or make a major purchase, contact your insurance agent to determine what you need to do to make sure you have the right amount of coverage.
Coverage for Natural Disasters
It’s important to make sure that your coverage for natural disasters is also up to date. You should know what type of natural disasters are covered. While most policies cover tornadoes and high winds, hurricanes and flooding require an additional policy. Have your policy reviewed and updated as necessary.
Possible Discounts
During a policy review, ask about any possible discounts you may be eligible for. Installing a home security system or putting a privacy fence may be enough to make you eligible for a reduced monthly premium. Ask your agent about any available discounts and what you need to do to be able to use them.
When your homeowners insurance policy gets to be a few years old, you need to have it reviewed to ensure that it isn’t out of date. If you are interested in learning more about your homeowners insurance or need to review your existing one, contact the experts at Scautub Agency in Scotia, New York. We are ready to help with the insurance coverage you need.