Tips for Getting the Most Out of Homeowner’s Insurance


4 Tips for Getting the Most Out of Homeowner's Insurance

Most people who own their own home have some sort of property insurance coverage. However, few really understand the value they are getting and how to maximize the benefits. Here are four tips to consider.

Tip #1: Make Sure You Have Enough Coverage

The easiest way to getting the most out of your homeowner's insurance is by making sure you have enough coverage. Talking with your agent every so often and reviewing your unique circumstances is an easy way to get this done.

If you've completed any recent renovations or additions to your home, it is important to let your agent know. This allows the company the chance to increase the replacement cost limit of your dwelling and help ensure you are totally covered in the event of a loss. In addition, if you own any special items (excess guns, jewelry or furs, collectibles, antiques) that are not included under the normal terms of your policy, it is important to bring this up so your agent can make sure you have the right coverage for your needs.

Tip #2: Think About the Area You Live In

Understanding the area you live in is another important factor. Most standard homeowner's insurance policies do not cover damage due to sinkhole, backup of sewer & drain, flooding or earthquakes. If you live in an area that is prone to any of these disasters, it is important to talk to your agent about additional coverage.

Tip #3: Take a Personal Property Inventory

Taking a personal property inventory is another way to get the most out of your home insurance coverage. In the event of a disaster, your insurance carrier can only help replace the items that they know actually exist.

By keeping a comprehensive list with photos and videos, providing them with this information becomes an easier task. Include as many details as possible about furniture, clothing, toys, decorative items, kitchenware, yard tools, electronics, etc. Store this documentation in a safe place, such as a safety deposit box, fireproof safe or an online cloud server.

Tip #4: Understand What Discounts Are Available

One great way to get the most out of your homeowner's insurance is by understanding what discounts are available. Most carriers offer price decreases for home that have a nearby fire hydrant, a newer roof or metal roof, or even a monitored security system. Furthermore, having a homeowner's policy with the same company that handles your auto insurance could help you save on both premiums.

Learn more about getting the most from your homeowner's insurance policy. Contact us today for a no-obligation review.


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