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Has it been a long time since you’ve actually looked at your home insurances policy? Do you know what your coverage is for natural disaster situations? What about whether or not your home improvements are covered? Are you under-insured? You need to review your home insurance policy to make sure that you are fully covered.

How Often Should You Review Your Home Insurance Policy

Annually is the short answer to this question. Every year, we acquire new high-value items or make home improvements that can change the value of our home. Even if you haven’t acquired anything worth enough money to change your coverage, the value of your home may have changed. Neighborhoods often change in value and if your home is worth more than it was a year ago, you don’t want to find out when you are trying to file a claim. You want to know now and you want to make a change now.

Natural Disaster Coverage

Natural disasters are something that most people don’t like to think about or consider. They are not fun and many people like to believe that they won’t happen to them. It seems a bit more like a movie scenario, but natural disasters do happen. They can happen to you. If you experience a tornado or flooding, you want to be prepared. What about a flood?

The truth is Tennessee has numerous natural disaster possibilities and you want to be prepared. Losing the entire value of your home because you were not covered for hazardous natural disasters is not something you want to experience. Take a look at your policy to make sure that your coverage includes not only the cost of rebuilding your home, but also expenses for living in a new location while your home is being built. It’s good to evaluate your natural disaster coverage every year.

High-Value Home Improvements

As you make your way through life, you will acquire more things. As we age, we often are able to purchase higher value items that need different levels of insurance. The value of your home typically varies drastically between your 20’s and 30’s as well as 40’s and 50’s. This is typically a result of home improvement measures. However, expensive purchases such as a brand new computer or a flashy new TV should also be covered by your homeowner’s insurance policy.

Too often, people only insure their home when they first buy it or when they move. This is a bad move because home values and home belongings continue to grow regardless of whether or not you move to a new home. If you originally insured your home in Tennessee for $100,000 but the value of your home has now increased to $150,000 then you need to re-insure. High-value items such as home additions and home improvements warrant a second look at your home insurance policy.

Interested in making adjustments to your home insurance policy? Contact your Franklin State Farm Agent, Ed Underwood to help you review your current policy as well as discuss possible changes to make sure that your home is fully insured.

Click here to get a quote or call 615-771-0700 to get information. Like Ed Underwood on Facebook!

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