Reasons Why You Should Review Your Homeowner Policy Now

One of the first things you do when buying your home is to insure it. But after that, do you care to review your homeowner insurance policy again? Not many people will say yes to that question. Whereas it is recommended that homeowner insurance policy should be reviewed annually. What are the reasons for this?
Why You Need to Review Your Homeowner Insurance Policy
Your homeowner insurance policy indicates what you can claim in case you suffer damage to your home. In most cases, the maximum amount you can claim depends on the value of your home, as it was calculated when you bought the insurance. As it is well known, the value of home always increases. However, suppose you don’t review and update your homeowner insurance policy after buying your home and later suffer damage to the home. In that case, your compensation will be calculated based on the cost of the house in the policy. Whereas if you updated your policy, it would be calculated based on the home’s current value.
There will also be a need to review your homeowner policy if you reconstruct or renovate your home. The addition of facilities like a swimming pool, basketball court, or basement will add more value to your home. For your home’s new value to reflect in your insurance policy, you must review the policy.
Other Reasons You Should Review Your Insurance Policy
Not only does the value of a house change, but your properties will also change. Most homeowner insurance policies also cover the properties in a home in case of severe damage to the home. So, as you buy new properties for your home, you need to review your insurance policy.
If you also change the use of your home, it may affect its worth or how the insurance is calculated. For instance, if you turn a section of your home into a home office, you may need to add more equipment and introduce more risk to the house. You must ensure that your home’s new value is calculated, and the new risk is adequately covered.
We Can Help You
To ensure your home is well covered and you get the maximum benefit from your insurance claim, it would be best to hire a professional public adjuster to handle your insurance policy. At 1800Adjusters™, we offer FREE consultation, and we will review your policy. Give us a call today at 1-800-235-8783 or visit our website to schedule your free consultation.
Recent Posts
Why Hiring a Public Adjuster After a Loss is a Game-Changer: An Expert Guide by 1800Adjusters
Why Hiring a Public Adjuster After a Loss is a Game-Changer: An Expert Guide by 1800Adjusters Experiencing a loss due to property damage can be overwhelming and stressful. Navigating the
What Every Policy Holder Should Know About Public Adjusters: A Guide by 1800Adjusters
What Every Policy Holder Should Know About Public Adjusters: A Guide by 1800Adjusters Navigating the complex world of insurance claims can be a daunting task, especially when you're dealing with
What is White Mold? A Comprehensive Guide by 1800Adjusters
What is White Mold? A Comprehensive Guide by 1800Adjusters White mold is a term that often raises concerns among homeowners and property managers. But what is white mold exactly, and
Why Summer is the Time to Review Your Fire Insurance with 1800Adjusters
Why Summer is the Time to Review Your Fire Insurance with 1800Adjusters The summer season invites us to enjoy outdoor activities like barbecues, bonfires, and cookouts. While these activities are
Enjoy a Safe and Carefree Summer with Tips from 1800Adjusters
Enjoy a Safe and Carefree Summer with Tips from 1800Adjusters Summer is a time for relaxation, outdoor fun, and making memories with family and friends. But it's also a time
Insurance Claims and Public Adjusters Frequently Asked Questions
About Public Adjusters: How to Find the Best When it comes to navigating the complex world of insurance claims, many individuals find themselves facing a multitude of questions. From understanding