TM Insurance

Have you reviewed your Home Insurance recently?

February 14, 2018

If you are like most people, you shop around for home insurance at the time of purchase, pick what is right for you and then forget it.  5-10 years may go by and you never really update your policy or even review it.

I have found that if you aren’t reviewing your policy at least annually – then you might not have the coverage you need when you have a claim. For instance, a client of mine purchased their home in 2010 for $150,000. They got the homeowners policy they needed and felt good about their coverage. In Fall 2017, they had a gas leak which caused a fire and lost everything – the home, garage, cars, furniture, etc.  After talking to the contractor, they find out it is going to take at least $220,000 in construction costs alone (not counting their vehicles and furniture they would need to replace). They couldn’t afford $70,000 so they could rebuild and ended up having to move and settle for a smaller home in a different school district.

Don’t let this happen to you – review your policies EVERY YEAR! Make sure you have the coverage need and that if something happened, you would be able to rebuild and start back up right were you left off. It will cost you a lot less money and you won’t have to SETTLE.