Home insurance is a vital protection against financial loss and liability, and it makes sense to review your coverage annually to make sure you are adequately protected. Texas County Mutual Insurance, a respected broker in Licking, MO, discusses some of the reasons you might need to review your coverage. The information below should help you stay financially secure in the event of misfortune.
5 Reasons You Need to Review Your Home Insurance Coverage
1. You've Acquired More Personal Property
If you've purchased new or expensive furniture, artwork, collectibles, or other items since your last insurance review, you might need to up your personal property coverage. Otherwise, you might be underinsured and could lose the value of your new belongings.
2. You Have Started a Home Business
If you're operating a home business, you should consult your agent about proper coverage. Your current home insurance policy may not cover damage to or destruction of business assets.
3. You've Installed a Swimming Pool
A swimming pool is considered an "attractive nuisance," which means it could attract neighbor kids who might use it while you are away from home. This type of behavior can be dangerous, and it raises your liability risk. Make sure you have adequate liability coverage to guard against swimming accidents, even those that occur while you are away.
4. You've Gotten a New Dog
A dog bite, even from a small and normally mild-mannered pup, can require hundreds or even thousands of dollars of medical treatment, depending on the age of the victim and the location of the bite. Make sure you adequately protect yourself with enough liability home insurance coverage that a serious dog bite won't ruin you financially.
5. You Have Renovated Your Home
If your home has been remodeled or renovated since your last review, you likely need to increase your dwelling insurance coverage to match its increased value. Otherwise, if a fire or storm should occur, you might not receive adequate insurance compensation.
To discuss your home insurance options with a friendly, knowledgeable professional, contact the team at Texas County Mutual Insurance in Licking, MO. For more than 100 years, this agency has been helping homeowners and agricultural business operators protect themselves against financial hardship. Visit their website to view a map and business hours, or call (573) 674-3125 to request an insurance quote.