4 Tips for Getting the Most Out of Homeowner’s Insurance February 9, 2017 By Cheryl Whitcombe 4 Tips for Getting the Most Out of Homeowner’s Insurance Most people who own their own home have some sort of property insurance coverage. However, few really understand the value they are getting and how to maximize the benefits. Here are four tips to consider. ___________________ Tip #1: Make Sure You Have Enough Coverage The easiest way to getting the most out of your homeowner’s insurance is by making sure you have enough coverage. Sitting down with your agent every so often and reviewing your unique circumstances is an easy way to get this done. If you’ve completed any recent renovations or additions to your home, it is important to let your agent know. This allows the company the chance to increase the replacement cost limit of your dwelling and help ensure you are totally covered in the event of a loss. In addition, if you own any special items that are not included under the normal terms of your policy, it is important to bring this up with your insurance advisor. Special items like jewelry, instruments, coins, artwork, antiques, etc. normally have policy limits. Your advisor will help make sure you have the right coverage for your needs. Tip #2: Think About the Area You Live In Understanding the area you live in is another important factor. Most standard homeowner’s insurance policies do not cover damage due to flooding or earthquakes. If you live in an area that is prone to either of these disasters, it is important to talk to your agent about adding it on. Tip #3: Take a Personal Property Inventory Taking a personal property inventory is another way to get the most out of your home insurance coverage. In the event of a disaster, your insurance carrier can only help replace the items that they know actually exist. By keeping a comprehensive list and photos, providing them with this information becomes an easier task. Include as many details as possible about furniture, clothing, toys, decorative items, kitchenware, yard tools, electronics, etc. Store this documentation in a safe place, such as a safety deposit box or online cloud server. Tip #4: Understand What Discounts Are Available One great way to get the most out of your homeowner’s insurance is by understanding what discounts are available. Most carriers offer price decreases for home that have a nearby fire hydrant, a metal roof, or even a monitored security system. Furthermore, having a homeowner’s policy with the same company that handles your auto insurance could help you save on both premiums. Learn more about getting the most from your homeowner’s insurance policy. Contact us today for a no-obligation review. 610-413-9880 info@berkshireinsuranceservices.com