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About This Product

When's the last time you had a checkup? A homeowners insurance checkup, that is. For your financial health, it's important to make sure that costly coverage gaps haven't developed since you purchased your homeowners policy.

Gaps in your homeowners insurance coverage often result from changes in your home or possessions over time. For instance, you might decide to add on a deck, or you could inherit a valuable piece of art from a relative. Even the normal possessions you accumulate gradually can add a lot to the value of your home's contents. By reviewing your needs regularly, you'll keep your insurance up to speed with these or other changes and avoid being underinsured.

How to prevent homeowners insurance gaps:

1. Be familiar with your homeowners policy. Read your policy's provisions and exclusions, and call us with any questions. Keep in mind that your homeowners policy does not cover flood damage. Also, coverage limits on personal possessions may necessitate additional insurance for your valuables.
   
2. Have your home appraised regularly. If you had to rebuild your home today due to a disaster, would you have enough insurance to cover the rebuilding costs? You need to know the current value of your home to answer this question, and that's where an appraisal comes in. Be sure to redo the appraisal regularly so that you can adjust your insurance coverage for appreciation, rising construction costs, and home improvements.
   
3. Check community building codes. Sometimes a damaged home, particularly if it's an older home, can't be reconstructed exactly as it was without violating current building codes. For instance, the home may need updated electrical wiring or special windows due to safety or energy codes. Knowing about these potential expenses in advance gives you time to obtain extra insurance protection if necessary.
   
4. Take a home inventory. Many people don't have nearly enough coverage for the contents of their homes. You can estimate how much insurance you need by documenting your possessions, both on videotape and on paper. Update this inventory yearly to include new possessions, and store copies in a safe place.
   
5. Evaluate your liability exposures. Does your homeowners policy offer enough liability coverage for your needs? An expensive lawsuit could result from an injury on your property or damage to the property of others. A personal umbrella may be a consideration.

A regular homeowners insurance checkup is a simple preventative measure that can spare you the financial pain of being underinsured. We're always here to answer your questions, as well as to help keep your insurance plan in good health.