You’re likely asking, why do I need to check-in with my insurance agent for an annual review?
If you’re like so many homeowners, you purchased your home insurance policy when you purchased your home and haven’t made a chance since, but things can change, and a periodic review will assist in reassessing that your insurance coverage still aligns with your needs.
In many cases, this oversight results in homeowners having gaps in coverage.
Not sure how?
Check this out, let’s say you purchased your home 10-years ago and the replacement cost was valued at $200,000, and you’ve had the same home insurance policy since you closed escrow. But over that 10-year period, due to inflation and changes in building costs, it now costs $300,000 to rebuild you home in the event of a covered loss.
That’s a whopping $100,000 gap in coverage. And that would create tremendous financial burden in the event of a fire loss.
Another common change that occurs are renovations and upgrades, this could be as simple as new furnishings to a total kitchen remodel. During a home insurance review you may discovered that changes you’ve made to your home have increased the replacement costs valuation.
Without a proper home insurance review you may not discover this and your home and belongings may not be fully protected.
A home insurance review doesn’t need to be a painful, long, drawn-out and involved process. That’s just NOT how it’s done, and not what the experience is designed to be.
You can get a home insurance review done, and have the knowledge you seek, and get the comfort that you’re home insurance needs are met, with a single phone call or visit with an insurance agent.
When you do meet with your insurance agent, here are the 4 things you’ll want to discuss:
You should think of your home insurance review like you annual spring cleaning or maintenance. An annual home insurance review will go a long way toward protecting what is likely your biggest investment … you home.
Your local insurance agent will know the details of coverage for your community, your city, and your state, and can help make sure you add a bit of “peace-of-mind” to your home ownership experience..
When was the last time you reviewed or updated your home insurance policy?
Want to know if you can save on home or auto insurance? See for yourself. Start a quote today.
Call today and speak with a professional insurance agent.
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IronPoint Insurance Services is an independent insurance agency licensed (#0G87821) with the California Department of Insurance. We are authorized agents for many A+ rated Arizona, California and Utah insurance companies. We provide consumers with online, phone, and in-person insurance services through our insurance company relationships. IronPoint Insurance Services, LLC offers multiple insurance quotes to provide consumers several options for their insurance products. We offer auto insurance through Mercury Insurance Group, Travelers Insurance Companies, The Hartford, MetLife Auto & Home, and Progressive Drive Insurance. We are authorized insurance agents for these companies and do not charge any fees for our services. If an IronPoint insurance agent trys to charge you broker or agency service fees for representing these companies, please contact us immediately.