Another year is coming soon, and as in previous years, it’s time to review your life so that you can plan for your future. Aside from making resolutions, you should definitely update your home insurance. Why? Because if you make changes in your life, this might affect your policy. You don’t want to void it or miss on substantial savings due to a simple oversight. So take out your home insurance policy and update them if one or more of these are on your annual to-do list:
Plan#1 – You plan on buying a new home
If you plan on putting that huge bonus to good use by buying a house, then an update to your home insurance policy is definitely needed. Are you buying a vacation house? Or do you plan on renting it out for additional income? Is it located in a disaster-prone area? These are just some of the things you need to ask yourself so that you know what kind of additional coverage you need.
Plan #2 – You will have a new status
Not in Facebook, but in life. Whether you’re hitching or ditching a partner, the Insurance Information Institute recommends that you update your home insurance. If its the former, you will be adding new possessions, some of which may be expensive and need to be covered. In the case of the latter, then an inventory will be helpful when you cut the ties that bind.
Plan #3 – You want a new look for your home
Renovations can substantially impact your coverage, so be sure to check them out before bringing down the first wall. And if you plan on contracting out the work, be sure to have worker’s compensation policy or you might end up crying over the hospital bill of one of your workers. If you are looking for updated home insurance Williams & Associates Marion can get you on the right path.
Out with the old, in with the new – that should be your motto every year. This should definitely apply to your home insurance. Start your year right by making sure that your coverage will match your future plans.Read More