Home insurance protects your belongings and property. Once a policy has been implemented, it will shield you from financial hardship, but you must also review it occasionally to ensure it continues to meet your needs. Here are a few instances when you may need to change or increase your coverage to stay safe.

When Should I Review My Home Insurance Policy?

1. Installing a Swimming Pool

Swimming pools are known as attractive nuisances. This means that if someone gets injured while using yours, even if they did not get your permission to swim, you may be held responsible. 

As a result, you may need to increase your liability coverage to stay protected. This project may also raise your premium costs, so consult your provider about additions to lower your rates, such as pool fences.

2. Buying Expensive Items

High-value items aren’t always covered by standard home insurance. You may need a rider to properly protect expensive jewelry or fine art.

Speak to your agent to safeguard your valuables against theft, fire, and other perils. 

3. Making Home Renovations

Adding onto your home can increase its value, which will affect the cost of your premiums. Rates are also based on the square footage of the house, so new buildings will increase your expenses. 

Installing security features, including surveillance cameras and alarms, may help you lower your premiums. 

4. Setting Up a Home Business

A business that operates inside a home is not always covered by standard home insurance policies. This is especially true when you have expensive equipment or supplies on the premises.

In this case, purchase additional business insurance. If you have employees, you may also require workers’ compensation to comply with the law.

The right insurance agency will help you review your policy to make sure it continues to meet your needs. This is the level of customer support Flathead Farm Mutual Insurance Company has provided since its founding in 1907. Serving the Flathead Valley, MT, they offer a range of policies to secure all types of property. Learn more about their products online or call (406) 752-7500 to receive a customized quote.