3 Things To Consider When Looking For Homeowners Insurance This Year

​It is often said that purchasing a house is the most significant financial investment that most individuals make. Acquiring homeowners insurance coverage is frequently an afterthought compared to all of the research and effort put into purchasing a house. 

However, home insurance requires more careful thought since the appropriate coverage may save you money if a big disaster hits. Here is a walkthrough of the three things your home insurance policy should have this year. 

1. Update your existing homeowner's insurance coverage.
   If your house is destroyed, the primary goal of homeowners insurance is to replace or rebuild it. If you completed home additions or renovations last year that raised the value of your property, your limits should be evaluated and adjusted to reflect that.
   
   It is important to refresh your home inventory list and check it with an insurance agent to ensure that your limits are sufficient to pay replacement expenses.
   
   
2. Check your add-on coverage.
   Because homeowners insurance is not legally required, most individuals acquire what their mortgage lender or condominium association requires. However, if you reside in a region prone to natural catastrophes, you may need additional coverage.
   
   Homeowners are not obliged to obtain flood insurance unless they reside in a designated flood zone. Nonetheless, the bulk of flood claims last year were from individuals who did not live in flood zones and were not protected by their homes insurance since flood insurance is optional coverage.
   
   It is advisable to consider potential plans to get extra add-on coverage such as flood insurance or pet insurance. 
   
   
3. Consider combining insurance in one.
   People usually get separate insurance for their pets, expensive jewels, and high-value items. Although people should be aware that home insurance provides many add-on coverages, such as pet insurance and unique jewelry, there is no need for separate policies.
   
   Having single insurance may be less expensive.

Conclusion
Having house insurance coverage that always has your back in a disaster can save you from bigger expenses. And it's the best advice always to do a yearly insurance policy "check-ups" to stay up with local construction prices, home renovations, and personal belongings inventories.

Check to determine whether you have enough insurance to rebuild or repair your home for the current market value. Through this, you can also be sure that you have the best fit policy for your home. 

At Family Auto Insurance Agency, we do our best to ensure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (313) 285-9042 or Click Here to request a free quote.