You should be checking your homeowners insurance every few years.

If you’re like most people, you don’t think much about your homeowners insurance after you purchase it with your property. However, you should take a look at your coverage every few years to make sure it meets your needs because when you need insurance, you truly need it.

You may be asking yourself why you need to keep verifying that it meets your needs. Well, if you’ve done any renovations to your home, you might need more coverage. Also, if you’re a condo owner, you need to make sure you have loss-assessment coverage because it covers the deductible on the master insurance policy, which can be thousands of dollars. If something were to happen that requires both your homeowners insurance policy and the master insurance policy, you’d be liable for both deductibles if you didn’t have lost-assessment coverage.

It’s smart to evaluate your insurance coverage periodically to ensure no adjustments are needed. If you have any questions about insurance coverage or real estate in general, call or email us. We would love to be your real estate resource.