Assessing your Homeowners Insurance Policy

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At least once a year, you should take a few minutes and review your insurance policies and ask yourself a few questions:

1. Do I have adequate coverage to replace my home in the event of a natural disaster?
2. Have I made any improvements to the home, like a new deck, or a new addition?
3. Have I acquired any items of value, such as jewelry or high-end musical instruments?
4. Have I completed a home inventory of my belongings, taken photos, recorded serial numbers, and uploaded them to a safe place? 
5. Has my credit score improved in the last year?
6. Do I belong to an organization that can give me an additional discount?

If you have answered yes or no to any of the above questions, you may want to spend some time reviewing your policy to ensure you have adequate coverage if you suffer a loss and to find out if you qualify for any other discounts. 

Starting with a home inventory, take photos of your big-ticket items, such as TVs; kitchen appliances, including microwaves, and stand-alone mixers; tools in the garage, such as a table saw or tool chest. You can also do a video tour of your entire home, that way you don’t miss anything.

 Next, using the Home Inventory Check List, write down purchase dates and price paid, if you recall, make, and model of the items. If you have receipts, include them with the checklist, scan the document, and then upload the information to a cloud-based service, a portable thumb drive, and e-mail yourself a copy. In the event items need to be replaced, you will have information to give to your claim’s adjuster. This will help your claim proceed more quickly and your adjuster will appreciate the documentation for their file. 

You may qualify also for additional discounts that can lower your policy premium. Have you been working to improve your credit? Your score can affect your insurance rates, so the higher the score, the better your chances of a better rate. Do you belong to any type of professional service group, a union, or were you a member of a fraternity or sorority in college? Many organizations offer discounts to members on insurance, car rentals, and more. 

Lastly, talk to the agents at Crow Hill Insurance and consider adding additional coverage for events such as a mudslide, water back up or flooding, or a bear deciding to sneak in the back door while you are out shopping and shredding your newly purchased leather couch. We are always happy to assist you with your insurance needs.