When should you review your home insurance policy?

Home insurance is something you need as a homeowner to protect the considerable investment you have made. But the coverage you had 20 years ago when you bought your home may not be the right coverage for you today. At Strack Insurance Services in Arlington, TX, we take the time to get to know you and your personal situation so that we can better serve you with the right products. 

When your policy renews, the cover sheet is your declaration page. It includes a short listing of all your particular coverage. This is the ideal time to take a good look at everything and decide if everything makes sense to you. It will tell you what your property coverage is to replace your home if a covered peril destroys it. It will also tell you the amount and type of content coverage you have. 

One of the most critical pieces of information is your liability coverage. This is the amount that protects your assets from legal actions against you. If your personal wealth has increased or your level of risk has risen, your amount may not provide adequate protection. 

If you have made any major renovations or additions to your home that have increased its value, it is important to look at the figure you are insured for and decide if it is reflected in the amount of coverage you need. Talk to your insurance agent about the amount and why you think it needs to be adjusted. 

Check for any riders you may have and also look at content limits to ensure your possessions are well covered and you don’t need to worry about inadequate coverage costing you dearly. 

Contact Strack Insurance Services in Arlington, TX for your home insurance need.