Doubleday Insurance Agency Blog
How often do you review your Iowa Home Insurance coverage?
2/3/2012 6:12:49 AM
Do you take time to regularly review Iowa home insurance coverage? Our insurance agency recommends that you review and adjust coverage at least every twelve months:
• Estimate the current cost of rebuilding your home. Online software is available that allows you to calculate building costs in your region for homes of the same size and standard as yours.
• Update your home inventory and calculate how much your possessions are worth and how much it would cost to replace them.
Having estimated the cost of replacing your home and possessions, now is the time to discuss your situation with us. Check whether your current home insurance coverage would provide sufficient compensation to replace your home and contents without the need to pay significant out of pocket expenses.
While adequate insurance for your home and possessions is important, don’t forget the other portions of your home insurance: alternative living expenses and liability. Do you have high living costs, and would alternative living expenses coverage be sufficient if you had to move out of your home for an extended period? Is standard liability coverage sufficient, or should you be considering umbrella insurance to raise the level of coverage?
Talk to your agent about alternative living expenses and liability coverage, and ask for guidance on addressing any gaps in your Iowa home insurance coverage. Don’t forget that the annual review is also an opportunity for you to claim discounts and credits. So if you have enhanced home security or installed other protective devices, ask your agent about incentives that might reduce the cost of home insurance premiums!
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• Estimate the current cost of rebuilding your home. Online software is available that allows you to calculate building costs in your region for homes of the same size and standard as yours.
• Update your home inventory and calculate how much your possessions are worth and how much it would cost to replace them.
Having estimated the cost of replacing your home and possessions, now is the time to discuss your situation with us. Check whether your current home insurance coverage would provide sufficient compensation to replace your home and contents without the need to pay significant out of pocket expenses.
While adequate insurance for your home and possessions is important, don’t forget the other portions of your home insurance: alternative living expenses and liability. Do you have high living costs, and would alternative living expenses coverage be sufficient if you had to move out of your home for an extended period? Is standard liability coverage sufficient, or should you be considering umbrella insurance to raise the level of coverage?
Talk to your agent about alternative living expenses and liability coverage, and ask for guidance on addressing any gaps in your Iowa home insurance coverage. Don’t forget that the annual review is also an opportunity for you to claim discounts and credits. So if you have enhanced home security or installed other protective devices, ask your agent about incentives that might reduce the cost of home insurance premiums!
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