How Often Should I Review My Insurance Policy?

Your Orlando homeowners insurance policy might not be what you consider light reading, but reviewing it regularly can help keep your policy up to date and your home protected.

You should plan to review your insurance policy when you:

1. Make major purchases or receive gifts. Is there a new diamond ring in the family? Were you gifted an expensive piece of art? These can change the value of your household and you may want to adjust your policy to protect those items.
2. Are up for renewal. If it’s time to renew your homeowners insurance policy, it’s definitely time to review it. Look over your coverage and consider if everything in there is still applicable to you. This is the time to look deeply into your policy and make sure it’s right for your home. If not, speak with your Orlando insurance agent to correct any shortcomings.
3. Make lifestyle changes. If your adult child moves home after college or you get married, you’ll want to revisit your policy. People moving in or out change the overall value of the home’s belongings. If there’s a significant change, you may need to change your coverage.
4. Alter or improve your home. By installing a pool, adding a room, or renovating the kitchen, you risk being underinsured. Make sure your policy changes to reflect these home improvements. In addition, let your insurance agent know of any safety improvements you’ve made, such as a state-of-the-art fire alarm system. You may qualify for a discount.

Your homeowners insurance policy is always meant to protect you, your belongings, and your home. Review it regularly and as the need arises to make sure you’ve got the right coverage.

For more information about homeowners insurance, talk to the insurance specialists at Corkhill Insurance Agency by calling 407-898-8891.