Time for an insurance audit?
/As we approach the end of another quarter of 2023, now is a good time for a friendly reminder about your homeowner’s insurance policy. When was the last time you looked at your policy’s coverage and cost? Let the headlines about the most recent wildfires and tropical storms serve as a reminder to look at your policy and make adjustments accordingly.
Many homeowners don’t pay close attention to their insurance policy since it’s wrapped into their monthly mortgage payment. Every year around the month you purchased your home you probably receive a letter from your insurance company showing what the current insurance coverage is on your home and reminds you to contact them if you need to make any changes before the new policy AND premium go into effect. If you make no changes, a new bill is sent either to you or to the mortgage company.
Insurance premiums have generally increased for almost everyone over the last few years even if you haven’t filed any claims. It may be worth your time to review your existing policy to see if there are any changes that could be made to lower your premiums. Did you get a new roof installed or get rid of a trampoline? Could you afford to increase your deductible?
No one wants to think about losing their home or possessions but having enough coverage in the event of a disaster is an important part of your financial health. There is a fine line between being under- and over-insured and your insurance professional can help you determine your risk. And, if you decide to shop for some new quotes, it may not be as time-consuming as you think because many companies now have quote tools available online where you are able to enter property details and then arrange for a representative to contact you which will save you time on the phone answering all those questions.
Taking some time now to review your coverage will help you protect one of your largest investments!
Jarod Tanksley - 615.403.8265
"You've Got a Friend in Real Estate"
BRENTVIEW REALTY 615.373.2814
