Like a lot of our insurance, once we have one "picked" we generally pay the bills and tend to forget about it until we have a claim. However, with home insurance, if you have had any of these things happen, you may need an update.
Did You Build an Addition to Your Home or Property? - If you are planning on building an addition to your home, or adding another structure to your property, you need to update your home insurance to cover the replacement cost of the addition should something happen. Some simple updates don't need the extra coverage if your home insurance has good replacement cost anyway, but, adding a bigger or new structure definitely needs an update.
Did You Get Some New Jewelry? - Did you know you can put your engagement ring or heirloom jewelry on your home insurance? This is a rider that is added and generally it's not very expensive. You may need an appraisal. The rider can cover lost or stolen items, depending. Ask your insurance agent. While you are at it, make sure other items in your home have the right insurance for replacement cost as well.
Do You Need Peace of Mind? - Are you worried about natural disasters or other potential "acts of God" when it concerns your home? Ask you agent what riders or other insurance you can add to cover these type of events, since general home insurance may not. In our area, we live on a fault line. Generally, we haven't had a lot of significant damage from earthquakes, however, we are also a coal mining area and after we had a large earthquake once, it changed my thoughts on having insurance to cover a seismic event. It wasn't expensive to add an outside earthquake policy along with our regular home insurance. It never hurts to ask your agent what they can provide for your peace of mind.
Did You Buy a Condo? - Check your HOA (Homeowner's Association) to see what kind of insurance they have to cover your condo. Generally a lot of HOAs have what is known as "bare walls" coverage, which generally only covers the shell of the building around your unit. Once you know what kind of insurance your HOA has, you can purchase complimentary insurance to cover what the HOA insurance doesn't.
Are You or a Family Member Renting? - When our daughter moved out of town, we were able to add rental insurance to our homeowner's policy to cover her belongings in the rental. It was not expensive and since she lived in an older apartment complex, it gave her peace of mind that she would be ok if something happened. Even if you rent for a short time, I highly recommend renter's insurance since you are surrounded by others in an apartment complex and you have NO CONTROL of what they do in their space. It can cover theft, fire or even flooding in some cases. Be sure and ask your trusted insurance agent.--Jen Lush