Once you achieve the American dream of homeownership, the next step is to invest in home insurance. This will ensure your greatest asset and all the possessions you’ve spent a lifetime acquiring are properly protected if disaster strikes. However, a standard policy doesn’t always provide all the coverage necessary to prevent substantial loss. It’s important to customize your policy to fill in any gaps where you’re left vulnerable. 

3 Ways to Customize a Home Insurance Policy to Fit Your Needs

1. Consider Adding Optional Coverage 

While the perils you are protected against will vary depending on the type of home insurance policy you purchase, there are certain events that are always excluded. These exclusions include damage that occurs as a result of flooding and earthquakes. If you live in an area that is prone to either of these disasters, you might consider adding optional coverage specifically designed to mitigate loss from floods and earthquakes. 

2. Purchase a Personal Property Endorsement 

Traditional home insurance policies include coverage for personal property but only up to a certain limit. If you own valuables such as jewelry or artwork that exceed your policy limits, the only way to make sure they are covered is to purchase a scheduled endorsement. This will allow you to receive a payout if any of your high-end items are stolen or damaged in a covered loss. 

3. Update Your Policy to Reflect Renovations 

If you decide to make renovations to your house, it’s likely your home insurance will need to be updated. Don’t assume your existing policy includes sufficient coverage for all your upgrades. Certain improvements will increase your property value or create more liability, so it’s essential your policy is modified to reflect this.

If you are shopping for home insurance, the professionals at Farmers Mutual Insurance Association of Osceola County can help you add and modify coverage to create a customized policy best suited to your lifestyle and budget. For more than a century, this insurance agency has provided Sibley, IA, residents with the flexibility to choose which products fit their individual needs. Call (712) 754-3654 to discuss your options, or visit them online to request a quote.