Review Your Insurance Policy
Review your Declarations page and Coverage Limits. Keeping your policy up-to-date can ensure that you are adequately insured before catastrophe strikes. Having your current policy information readily available can even help expedite the claims process. Consider these common scenarios and discuss any updates with your Agent:
- Have you recently remodeled or added another structure to the property such as a shed, pool or fencing?
- Are the names on the Declarations Page still correct? Have you had a name change or need to add/remove a party from your policy?
- Is the phone number on the policy still correct? Can you also provide an email address as an alternative form of contact?
- Has your mortgage company changed or have you satisfied your mortgage? Have you taken out an equity line of credit against your home?
- Is the correct mailing address listed on the policy? This is very important, as it will be the address where insurance correspondence and payments will be sent.
- Does your policy allow for Additional Living Expense in the event you are displaced from your home as a direct result of a loss?
- Does your policy cover for wind damage? Some policyholders elect to have a separate wind carrier. Know your wind carrier and have their information readily available.
- Does your insurance policy cover for food spoilage? Most policies do not, so plan for alternative methods for safely keeping perishable items fresh and to limit costly food loss. But remember: ‘When in Doubt, Throw it Out.’
- Do you have or need Flood insurance? Your homeowners or dwelling fire policy does not provide coverage for flood, so a separate flood policy will need to be purchased.