A great way to get organized in the new year is by reviewing your current home insurance policy. Setting up this habit at the start of each year will ensure that you have the right coverage in place for your needs. Below are some tips to help you get started in reviewing your current policies.
How To Know That Your Home Is Covered in the New Year
Make Sure You Have Enough Property & Liability Coverage
The primary components of every home insurance policy include property and liability insurance. Property coverage will provide you with the replacement value of your home if it’s destroyed or burns down in a fire. This portion of coverage also provides remuneration for your personal belongings within the home. This is why understanding your home’s true value is so important. The liability portion of the policy applies if someone is injured on your property. It pays for medical costs and any lawsuits that may happen as a result of an injury.
Take an Inventory of Your Belongings
The new year is a great time to take stock of certain housekeeping items that we’re too busy for during the rest of the year. Take stock of what you own and assess its value. This amount will go into coming up with an accurate number for how much home insurance you need. If you believe that your home value has gone up significantly, consider getting an appraisal done, so that you have a current replacement value for your home in the event of a disaster.
Review Your Coverage With an Insurance Agent
Make a habit of setting an annual appointment with your insurance agent before the new year. They will help you to assess whether you need additional coverage, or reduced coverage, depending on where you are in life. Major life events, such as marriage, birth, job changes, and death all trigger the need to review your current coverage.
Starting the new year off right should include reviewing your current home insurance policy to make sure you’re properly covered for the year ahead. The qualified team at Texas County Mutual Insurance are on hand to help you find the best policies for your needs. Call them today at (573) 674-3125 or visit their website for more information on their variety of services.