Is it time to Update Your Homeowners Insurance?
There is a lot that of work that goes into home ownership; maintenance, mortgage payments and everything else that go along with the American Dream. You might find that years have gone by, and a lot has changed, since you last reviewed your homeowner’s insurance policy. I know what you’re thinking, here’s where we’re going to tell you that you need to pay more because you have more stuff now. Well, OK, you are not totally wrong, but there are also instances where you may be able to save money and need LESS coverage. Hear me out, and don’t forget that our Keenan Insurance agents in Doylestown, PA are always here to answer any questions you might have.
Your home, vacation home, or investment property:
You’ll want to make sure that your home is insured for its estimated reconstruction cost, and not the current market value. Depending on the area, it could actually cost more to rebuild a home from scratch than its market value. If you are buying that second vacation property down at the Jersey shore, be sure to look into Seasonal and Vacation Home Insurance, and if you are renting out a property, look into Landlord Insurance.
Did you just remodel that kitchen from the 1970’s into a hardwood, granite and stainless steel masterpiece? If so, you need to take that into consideration, as it could significantly increase the cost of rebuilding your home in the event of a loss. A kitchen upgrade alone can cost tens of thousands of dollars. Installing a safety system or sprinklers? This kind of upgrade may end up saving you money. Be sure to talk to your Keenan Insurance agent in Doylestown, PA to see if you qualify for any homeowner’s insurance discounts.
So you just bought a new stereo system, or your significant other just bought you a new 2-carat sparkler for your finger. While you are basking in the romance of the moment, the last thing on your mind is probably calling your insurance agent. But after you’ve savored the moment, it’s a good idea to pick up the phone. You do have some built-in coverage for these things in your homeowner’s policy, but only up to a limit. If any of these valuable were damaged or stolen, you want to have the peace of mind of knowing you have enough insurance to cover the loss.
There are certain life events that alter the amount of homeowner’s insurance you want and need. For example, retirees (from certain professions) can get insurance discounts from Farmers®. Homeowner’s insurance is not a set it and forget it kind of thing. Your life is constantly evolving; make sure your insurance evolves to keep up! For more information, or a free no-obligation review of your current homeowner’s policy, feel free to contact our Keenan Insurance agents in Doylestown PA!