How often should I review my home insurance?

Your home is family-centered and making sure that you keep it safe makes sense. Home insurance provides several different kinds of protection. When you have a mortgage, the lender requires you to maintain coverage, but it is a good idea, no matter what, to protect the major investment that your home is. At B & G Insurance in Miami, FL, we are locally owned and have more than 40 years of combined experience. We work for you and will use our expertise to find the best possible options to meet your needs. 

Home insurance is not static, it changes with you. What may have been adequate protection when you originally purchased your policy can end up being not nearly enough today. When your policy renews, most home policies renew yearly, that is the ideal time to check the declaration page to see what coverage you have and whether or not it provides enough protection. 

You need to consider if you have increased the value of your home significantly. The replacement value should reflect that increase. Have you added any additional risks such as a swimming pool, a dog, or a trampoline?  Are you worth significantly more than when you took out your policy? Is your liability coverage adequate and is it time to consider getting an umbrella policy? 

Have you made your home a safer place by adding a home security system or smoke detectors directly connected to the fire department? These are things that you need to make your insurance agent aware of. 

Have you added any jewelry, art, or collectibles to your home? You may need to consider content enforcement to extend the level of your coverage to protect the new additions. 

Basically, you should review your home policy any time you have a significant change in your personal situation. 

Contact B & G Insurance in Miami, FL when you are ready to discuss home insurance coverage.