Homeowners insurance is one of the most important things to have in case something happens to your home. It’s the only way you can be compensated if there is a fire or accident that causes damage to your property. It’s also important for being able to get another mortgage, should you ever need it. But not everyone knows how often they are supposed to think about adding more coverage. Here are a few times when you should be looking at adding to your homeowners insurance coverage.
When You Make Renovations
One of the most important reasons to buy more coverage is for renovations. If you are planning on putting in a pool or something similar, you need to have enough insurance so that if anything were to go wrong, you would be covered.
When You Have Valuable Items
One of the best times to add coverage is when you’ve acquired a lot of valuable items. If you have a house full of antiques, for example, or your belongings are particularly high in value, it makes sense to think about getting more insurance.
When You Start a Home Business
If you have a home business, it only makes sense to add more coverage. This will protect your inventory and any equipment you might use for the business in case of damage or theft.
When It’s Time to Upgrade
Another good time for consideration is about five years after you first bought your home. After this period, most insurance companies will give you the option of increasing your coverage to better match what is happening with your house. This is also a perfect opportunity to take stock of all of the changes that have happened to your residence as well as what you’ve got now that is valuable.
There are many reasons to consider increasing your coverage, and most insurance companies will do so if you ask. This way, you’ll never have to worry about being under-insured. Are you looking for home insurance in Salt Lake City, UT? Call Uban Insurance Agency and let us help you choose your coverage today.