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Reviewing Your Homeowner’s Insurance

Date : July 15, 2010

Neon Insurance Office Sign
Creative Commons License photo credit: David Hilowitz

Have read your Homeowner’s Insurance Policy lately? It might be a good idea to take a second look now, before you actually need it. Spend a few minutes reviewing your insurance policy and contact your agent if you need to make any adjustments. Your agent should be able to answer all of your questions and gain your trust. If aren’t entirely comfortable with your agent, ask me for a reference. The following could save you money both short-term and long-term.

Ask – Would you qualify for a premium reduction with the installation smoke detectors, alarms, new locks, or improved roofing material? Can you qualify for a long-time customer or senior discounts? What is really covered by your insurance? What does the phrase “acts of God” mean to your insurance company?

Discover – What’s insured, your actual home or just the land under it? Is the land value included in your policy amount? Why? Is your home coverage for replacement value or actual cash value? Is that what you want?

Evaluate – Do your valuable and unique items need special coverage? Would raising your deductible result in a significant reduction in your premium? Do you have or need insurance for earthquake or flood damage?

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