When it comes to home insurance, one of the most common mistakes Houston, TX homeowners make is purchasing an insurance policy, tucking it away, and never giving it another thought. However, over time, situations will change and your coverage needs will change. Because of this, it is imperative to review your policy annually and make changes as necessary. If you fail to do this, you may leave yourself vulnerable and inadequately protected. AAIGOT Insurance Agency Inc wants to share a few situations in which you should consider updating your home insurance policy.
When You’re Remodeling
A number of remodeling projects can impact your insurance coverage. For instance, adding an addition or renovating the kitchen could improve your property value. As such, you will need to increase the amount of protection to ensure you receive enough to rebuild should disaster strike. Some other projects like installing a swimming pool could increase the liability limits of your policy.
When You Make a Large Purchase
One of the great things about home insurance is that it will cover the cost to repair/replace your personal possession if damaged or stolen under a covered event. However, keep in mind your standard home insurance policy will only offer this coverage up to a certain amount. If you require more, you will need to purchase an endorsement. So, make note of all of your high-value assets like artwork and jewelry and determine just how much coverage you need.
When You Install a Security System
As a general rule, you can get a discount on your homeowner’s insurance policy when you have a security system installed in your home. This is because you have taken additional measures to improve the safety and security of your home. So, if you have installed a security system or done anything else that could improve the safety and security of your home, review your coverage to ensure you’re not missing out on anything.
When you have questions about home insurance or would like to sit down with an agent to review or update your policy in Houston, TX, reach out to the team at AAIGOT Insurance Agency Inc.