5 Tips for Reviewing Your Home insurance Policy

Home insurance is one of those things that you hope you never have to use, but it’s there for peace of mind in case the worst happens. Whether it’s vandalism, burglary, or an accidental kitchen fire, home insurance can help you rebuild your life. But when was the last time you reviewed your policy? Home insurance companies are constantly updating their policies and introducing new coverage, so it’s important to review your policy regularly to ensure you’re still getting the best coverage. Not sure where to start? Bachmann Insurance Agency in Flushing, MI offers this guide in navigating this important coverage.

Here are five tips to help you review your home insurance policy:

1. Know Your Coverage Limits

The first step in reviewing your home insurance policy is to know your coverage limits. The maximum amount that your insurance coverage will pay out if you have a claim is known as your coverage limit. Most home insurance policies have two coverage limits: one for the dwelling itself and one for your personal belongings. Make sure you know your coverage limits and that they’re adequate to cover the replacement cost of your home and belongings.

2. Know What Changes You’ve Made to Your Home

The next step is to take inventory of any changes you’ve made to your home since you last reviewed your policy. Have you renovated your kitchen or added a new bathroom? These types of changes can affect your dwelling coverage limit. If you’ve made any major changes to your home, let your insurance company know so that they can adjust your coverage limits accordingly.

3. Know What’s Covered and What’s Not

Now that you know your coverage limits, it’s time to take a closer look at what exactly is covered by your policy. Most home insurance policies cover damage from fire, wind, hail, and lightning, but there are some exclusions, so it’s important to read your policy carefully. For example, many policies exclude damage from flooding, earthquakes, and sinkholes. If you live in an area that’s prone to these natural disasters, you may need to purchase additional coverage.

4. Know When Your Needs Change

Your needs will change over time, and your home insurance policy should reflect those changes. For example, if you get married or have a baby, you’ll need to ensure your coverage limits are adequate to protect your growing family.

5. Read the Terms and Conditions

Last but not least, carefully read the terms and conditions of your policy. Home insurance policies are long and complex, so it’s important to understand all the details before making a claim. If you have any questions, don’t hesitate to contact your insurance company for clarification.

Give Us A Call

By following these five tips, you can ensure that you’re getting the best coverage for your needs. Reviewing your home insurance policy regularly is the best way to ensure you’re prepared for anything. If you have questions about your policy or need help finding the right coverage, Bachmann Insurance Agency in Flushing, MI can help. Give us a call today to get started.