Are You Familiar with Your Home Insurance Policy?

Like many homeowners, you may have bought home insurance when you first purchased your Ponte Vedra Beach, FL home and then automatically renewed it annually without taking time to review your policy. As time goes by, however, your coverage may change due to changes in your home or lifestyle. Without updating your policy, you could be missing out on valuable protection. At Palm Valley Insurance Inc., we recommend you review your home insurance annually to stay current on your coverage. Here are some reasons why you should be familiar with your policy.

Maintain Optimal Protection 

The purpose of home insurance is to protect your dwelling and belongings. Failure to update your policy could leave you short of protection in various aspects of your coverage. Major renovations or upgrades to your home’s systems, for example, can increase your home value, making your current dwelling insurance insufficient to rebuild your Ponte Vedra Beach FL home if it’s destroyed in a disaster. You’ll also need to add home renovations to your policy to include them in your coverage.

If you’ve accrued high-end goods since purchasing your policy, they may not be fully protected under the current limits of your policy. In the event of theft or damage, you could wind up paying for most of the repair or replacement costs out of pocket. By reviewing your policy annually, you can keep up with changes that affect your coverage and take steps to update your protection against unforeseen disasters.

Facilitate Making a Claim

Being familiar with your insurance coverage will make it easier to make a claim. You’ll know what kind of protection you have and be able to complete your paperwork quickly and accurately.

To learn more about your home insurance coverage, contact your Palm Valley Insurance Inc. agent today.