Property coverage should be re-examined annually, and this season presents a good opportunity.
Experts in the industry typically recommend that property owners conduct a homeowners insurance review once per year, and the spring is an ideal time to do it.
The start of this season allows property owners to ensure they have adequate coverage for the year ahead.
With the fresh starts that come with springtime, a homeowners insurance review can help policyholders to ensure that their coverage is still appropriate for their needs. This way, they can know that they are covered for the changing value of their home, any contents that may have been added or removed, and for any new perils that may now be of concern that have not been a part of the coverage until now.
This also presents the opportunity to make certain changes to a home and/or its landscaping to help protect it against possible damage. Reviewing a policy can be a reminder of the types of risks that a property can face of the coverage available for it and the deductibles involved. In so doing, it can also remind homeowners that there are many things they can do to help avoid having to make a claim in the first place.
Spring is a good season for a homeowners insurance review after snow but before wild summer storms.
Weather events are getting stronger and more frequent. Places that didn’t used to be affected by certain types of weather conditions are finding themselves suddenly a part of the regular weather warnings. It’s too late to change coverage when the incident has already occurred. Changes must be made well in advance of destructive events. For this reason, the earlier you can make the changes to your policy to protect you from damage from tornadoes, hurricanes, hail and other extreme weather that has already started occurring, the better.
Many policies offer deductions when homeowners make changes to their properties that will reduce the risk of damage in weather events. Its worthwhile to look into whether you can save money by taking these steps and disclosing them to your insurer.
Finally, be sure to know that your policy covers the cost to replace or repair your home, not just its market value. If you are unsure as to how much coverage you require, include an experienced agent in your homeowners insurance review. He or she can provide invaluable advice to ensure you have the coverage you require at the best possible price.