The fresh air and warming temperatures that signal spring's arrival inspire a whole-house overhaul for many homeowners. Although decluttering and dusting are staples of many spring cleaning lists, reviewing your homeowners insurance is also a useful to-do chore. If you haven't already cleaned up your plan this year, here are three reasons you should. 

Spring Cleaning Tips for Homeowners Insurance Policies

1. Assess Limits

Inflation has a significant impact on the price of goods and services, including building materials and labor. For that reason, the economy directly impacts the replacement value of your home. Value is also affected by the local real estate market and home improvements. To ensure they're up-to-date, thoroughly assess all coverage limits in your policy. 

2. Review Coverage Areas

Home improvement projects, including garage door replacements and kitchen remodels, boost home value. Yet, if an upgrade isn't technically considered a part of the dwelling, your homeowners insurance may not cover it. As a consequence, a recently constructed shed, fence, or deck may not be protected. If you've made any enhancements to your home since taking out a policy, review it to identify any holes in coverage that need to be addressed. 

3. Evaluate Deductibles

As with auto insurance, homeowners policies have multiple preset deductible amounts—usually ranging from $500 to $2,000. Some plans are also fitted with percentage-based deductibles in which you pay up to a percentage of your home value for a covered claim. Opting to cover higher out-of-pocket costs typically results in lower premiums. Review your policy's deductible to uncover possible savings opportunities. 

Review your homeowners insurance policy this spring with the assistance of an insurance professional at Wimoth Insurance Agency, Inc. Since 1939, this independent agency has served the diverse coverage needs of residents in Cookeville, TN, across Putnam County. From homeowners to car insurance, their team is committed to personalizing insurance coverage. Review your policy options online, and request a quote today at (931) 526-6181.