How to Best Prepare for an Annual Home Insurance Review

If you are like most homeowners, you may not have recently reviewed your home insurance policy. The last time you likely skimmed through it was if you had to file a claim or when you chose your policy.

However, after you have nestled into your home, you may have made a few renovations, updated your appliances, and acquired more belongings. Unfortunately, without an insurance review, you may be shortchanging yourself when it comes to your home insurance coverage, should you need it one day.

3 Tips to Prepare for Your Annual Home Insurance Review

You may be happy with your coverage or have forgotten all the fine print associated in your policy.

To ensure you are adequately covered in your current policy, or to determine if you should look elsewhere for a better policy that meets your current needs, you should conduct an annual home insurance review. The following are three tips to help you best prepare for this.

home insurance policy

#1: Conduct a home inventory

A home inventory is when you take inventory of everything in your home, which can include installations, appliances, renovations, technology, heirlooms, etc. This type of inventory will help you determine the amount of coverage your home insurance policy should include.

#2: Discuss significant life changes

There are a multitude of life changes that can affect your property and necessary coverage, such as having a baby, starting a home business, inheriting jewelry or firearms, and more. These significant changes are worth discussing as a part of your annual home insurance review so that you receive adequate coverage if you ever need to file a claim.

#3: Review the policy with your agent

You are bound to encounter several life changes, which can affect your insurance needs. Annually conducting a home insurance review with your agent helps you determine if you have sufficient coverage for your current situation. You should review items like available discounts, any home renovations, landscaping changes, and appliance upgrades.

Finding the Best Home Insurance Coverage

Conducting an annual home insurance review can be very beneficial. You may discover that you are happy with the price you are paying for coverage, or you may realize you have insufficient coverage.

At GWK Insurance, we help you shop the best quotes and policies that meet your budget and lifestyle needs. Contact us today to learn how we can help you find the right home insurance coverage for you.