Do You Need More Home Insurance?

Home Insurance Phoenix AZ

Consider opting for more home insurance to fully protect your investments.

At least once a year, it’s a good idea to review your insurance coverage on your biggest asset: your home. Your homeowners insurance coverage is designed to protect your home and belongings so that you don’t have to worry about the financial future.

If you haven’t yet reviewed your home policy this year, check out these tips to determine whether you have a sufficient amount of home insurance coverage.

Ask the experts
Supplement figures generated by your insurer for the replacement cost of your home by getting a second opinion from a local contractor. Ask for an estimate of the true cost of rebuilding your home, including the expense of demolishing the structure. In addition, if your home has gone up in value over the recent years, you’ll need matching coverage. Once you have a concrete number, talk to your insurers to accurately get the right coverage.

Check your contents coverage
If you have particularly valuable possessions, such as high-value jewelry or musical instruments, they may exceed your current coverage limits. For example, if you have recently purchased a set of jewelry for $5,000 but your homeowners insurance policy only covers damages of up to $3,000, you’ll be left to pay for the damages or loss of that set on your own. Always ensure your valuable pieces are protected!

Update with updates
Additions and interior renovations, such as a new kitchen or remodeled bathroom, could push your home past its current insured value. Some improvements may come with unexpected insurance costs, such as a pool or trampoline, so you may need extra liability coverage.

Check your fluffy friend
Certain breeds of dogs, such as pit bulls, may not be a homeowner’s best friend because they may not be insurable. If you fail to disclose that you have the ‘blacklisted’ breeds, and your dog injures someone, you could be left to pay for their liability claim on your own.

There’s no such thing as too much communication with your agent! Talk to an expert at American Premier Insurance, serving Phoenix and cities in Arizona for the quality insurance coverage that you deserve.