Is there anything you need to do when renewing your homeowner’s insurance policy?
1. Did you create a Trust and change the deed of your property into the name of your trust?
It is extremely important to make sure to update your policy and add the trust, otherwise you may have claims denied because the policy is no longer in the same name as the name on the deed of the property.
2. Notify your agent if you did any renovations to your home or any additions or construction. This can change the cost to rebuild your home and how much coverage you need.
3. Notify your agent if you made any changes to detached structures on your property.
Did you build a pool, built-in BBQ, casita, stables, etc.?
This would mean you would need to possibly increase the coverage for other structures on your policy.
4. Did you buy any personal property items that are $3000 or over that you might need to schedule on your policy?
This would include jewelry, fine art, antiques, guns, furs, collectibles. Discuss any big purchases with your agent.
5. Did you buy any additional properties during the last year?
You may need to list these on your homeowner’s policy to extend liability coverage to those properties.
6. Every 5 years or so have your agent check the cost to rebuild your home to make sure the coverage you have to rebuild is correct.
It is very important to notify your agent when you have significant changes happen in your life.
Most life changes require changes to your policies that you may not think of.
Your insurance agent is a resource to make sure you are properly protecting yourself and your assets.
I know we are not number one on your list of people to call, but make sure we are on the list!