When Should You Review or Revise Your Home Insurance Policy?
Home insurance isn’t a “set it and forget it” kind of protection. Life changes, and so do the needs of your home and family. Whether you've recently renovated, welcomed a new family member, or experienced a shift in finances, it’s essential to regularly review, revise, or adjust your home insurance policy to ensure it still provides the coverage you truly need.
Why Reviewing Your Policy Matters
Your homeowners insurance is designed to protect your biggest investment—your home. However, if your policy doesn't reflect your current situation, you may be overpaying for unnecessary coverage or worse—underinsured when disaster strikes.
Let’s take a closer look at the situations that call for a policy review or update:
It’s Been Over a Year Since You Last Reviewed Your Policy
Insurance needs evolve, and most experts recommend reviewing your policy at least once a year. Even if nothing major has changed, your insurance company may have adjusted rates, added new endorsements, or updated policy language. A quick review can help you catch changes that may impact your coverage or costs.
You’ve Made Home Improvements or Renovations
Did you remodel your kitchen, add a deck, finish your basement, or install a new roof? Any improvement that increases the value of your home or changes its structure could impact your insurance coverage. Failing to report upgrades might leave you underinsured in the event of a loss.
You’ve Purchased High-Value Items
Home insurance typically includes limited coverage for personal belongings like jewelry, electronics, or collectibles. If you’ve purchased new valuables, you may need to schedule them separately or increase your personal property limits to ensure they’re fully protected.
A Change in Family or Household Size
Welcoming a new baby, getting married, or having a relative move in are all reasons to revisit your policy. More people in the home can affect your liability exposure, and you may also need to update personal property coverage or add life insurance options.
Your Financial Situation Has Changed
If you've recently changed jobs, retired, or experienced a significant shift in income, it's worth considering adjustments to your deductible or coverage limits. Increasing your deductible can lower your premium, while increasing coverage could offer more peace of mind during uncertain times.
You’ve Added a Pool, Trampoline, or Home-Based Business
Items like swimming pools, trampolines, or even home offices can add risk to your property. Some of these additions may even be excluded under your current policy unless properly disclosed. It’s crucial to make sure you’re protected in case of injury or loss.
Your Area Is Experiencing New Risks
If you live in an area that’s seen an increase in wildfires, floods, or severe storms, your existing policy might not provide enough protection. You may need to add endorsements or explore coverage upgrades to account for emerging risks.
Need Help Understanding Your Policy?
At Keathley Claims Consultants, we know that insurance policies can be confusing—and unfortunately, insurance companies don’t always do a great job of making things easy to understand. That’s where we come in.
If you’ve recently experienced damage or are unsure whether your current policy meets your needs, we’re here to help. From reviewing your coverage to guiding you through the claims process, we work for YOU—not the insurance company.
Final Thought: Be Proactive, Not Reactive
Waiting until disaster strikes to find out you’re underinsured is a costly mistake. Take time now to review your policy and ensure it reflects your current home, lifestyle, and financial goals. If you’re unsure where to start, Keathley Claims Consultants is just a phone call away.
📞 Contact us today for guidance, support, and expert help in protecting what matters most.