Your home insurance policy protects you in case a fire or storm damages your house, vandals or thieves rob your property, or you accidentally injure someone or damage their property. However, when it comes to insurance coverage, you shouldn’t set up a policy and then forget about it. Below, the experts at Kramer-Myers & Werring-Dickerson, a home insurance agency in Batavia, OH, explains why you should review your policy each year to make sure you have the right coverage.

Why You Should Review Your Home Insurance Policy Each Year

Take Advantage of New Discounts

This year, you may qualify for a discount that you did not last year. For instance, if you've recently installed a security system, your insurer may offer a price drop. Additionally, your insurer may have added new discount categories over the previous year.

Protect a Higher Home Value

A home addition, renovation, or other large-scale improvement could increase your home value considerably. You'll want to protect that investment by raising your dwelling coverage limit to match it.

Insure Newly Purchased Items

If you've purchased a houseful of new furniture in the past year or other pricey items—e.g. artwork, jewelry, or collectibles—you should consider raising your personal property coverage limit a commensurate amount. Depending on the property, you may have to submit the item(s) for appraisal and purchase a separate rider to ensure you receive the entire value if it's lost or damaged.

There are a number of excellent reasons to update your homeowners insurance coverage each year. In fact, it's good practice to review your business, life, and auto insurance policies at the same time. To discuss coverage options, contact Kramer-Myers & Werring-Dickerson, one of the most trusted and experienced home insurance agencies in the Tri-State area. They have been serving residents and businesses throughout the Greater Cincinnati region for nearly 60 years. Visit their website for directions and office hours, or call (513) 732-1461 to request a home insurance quote.