Homeowners insurance extends an umbrella of financial protection over your house and some of your most valuable belongings. However, as you go through life, the value of your property may change. Ensuring that it is covered means continuously updating your policy. Below are a few situations that should trigger a review.

4 Times to Update Your Home Insurance

1. Extensive Remodeling

Finishing the basement or remodeling the kitchen can add thousands of dollars to your property value. Therefore, after extensive renovations, adjust the insured value of your home to ensure you have enough to rebuild after a disaster.

2. Security System Installation

Insurance providers typically offer generous discounts to homeowners who take steps to minimize risks. If you’ve recently installed a security system, updating your policy could save hundreds of dollars every year.

3. Acquiring Valuable Assets

The standard homeowners insurance policy also covers your personal possessions, but some types of assets are subject to separate limits. For instance, the policy may offer up to $60,000 in personal property possession, but only $2,000 of that may be applied toward jewelry.

After acquiring especially valuable items, extend your coverage or purchase an additional policy to protect your new belongings.

4. Getting a Dog

The liability component of home insurance covers damage anyone in your household might cause, which includes your family pets. Because almost any dog is capable of causing injuries to neighbors or their pets, you may need to increase your liability limits after bringing a new furry friend into your home.
 

Since 1991, the agents at Michael E Glick Insurance have been helping homeowners throughout central Texas protect themselves from the unexpected. They proudly offer personalized attention to every client and will take the time to find a policy tailored specifically to your unique situation. Visit them online to learn more about services, get more tips and advice on Twitter, or call (830) 816-9488 to schedule a no-cost review of your policy.