How to Prepare For Your Annual Homeowners Insurance Review

According to a 2022 SafeHome.org survey, only 13% of Americans plan to make a change to their home insurance this year. You might think it would be fine to let your homeowners insurance renew annually without giving it a second look, but we recommend giving your independent insurance agent a call or email back when they reach out to schedule an annual homeowners insurance review with you.

An annual review can help you check in on plenty of things. Are your current limits adequate in the unfortunate event something like a theft, fire, or weather disaster happens? Is your deductible an amount you would be comfortable paying? Are you getting all the discounts you should be? Are there are new coverages you might need?

To prepare for this review, we recommend having the following available:

• Have a list of questions written down to ask your agent. A couple examples are "Does my policy provide enough coverage to rebuild my home?" and "Do I need extended coverages for my valuables?"
• Check out your insurer’s website for ways to save or add value for your coverages. Your life and family are continually changing, so you may be eligible for more savings!
• Create a home inventory. This can be completed quickly by walking around your home with your smartphone taking pictures and videos - especially your valuable items such as jewelry. This will also benefit you in the unfortunate instance of a claim.
• If you don’t already bundle your insurance, bring along your auto policy. You may be able to bundle your auto and home insurance to save even more.
• Share any significant life changes that may affect your insurance. This can be anything from starting a home business or buying more jewelry to getting married, having a baby, or even getting a divorce.

So, now that you are properly prepared, contact your independent insurance agent to set up your annual homeowners insurance review today.