Want to make sure your home is adequately protected in the coming new year? Here are 5 tips for homeowners that you should consider making and keeping.
With 2023 right around the corner, it’s a great time to reevaluate your homeowner’s insurance and assess what changes you need to make. You may have carried the same coverage for years but have made improvements to your home since then. If so, your homeowner’s insurance should be updated right away.
#1. Create or Update a Home Inventory
If you haven’t created a home inventory, put this at the top of your to-do list. Without a detailed inventory, you may not recover the full value of your possessions in the event of a loss. It sounds like a daunting task, but making a home inventory list can be simple if you approach it the right way. Here are some suggestions:
- Go room by room and record furniture and other items in each room. Do one or two rooms a day to make the task easier. Within a week, you should be finished. Make note of the description of each item, serial numbers, purchase price, date of purchase, and current value.
- Create a visual record of each room, including the inside of closets and cabinets, etc. Describe the contents orally or by taking notes. You may be able to find an app that can help you with this.
- If you make a physical document, store it in a safe place off-site. A digital inventory should be saved on an external storage device or online account.
Be sure to update the inventory list when you make a significant purchase. Also, avoid padding the list with items you don’t actually own, and never inflate the value.
#2. Set Aside an Emergency Fund for Repairs
Sometimes your home will need minor repairs that cost less than $1,000. If you file a claim on your insurance for the repairs, the premium increase could exceed the actual cost of the repair. An emergency fund can pay for these types of unexpected expenses and save you money in the end.
Using the emergency fund is also a great way to keep your insurance premiums lower because you’ll only use the insurance when you truly need it.
#3. Update Your Emergency Supply Kit Documents
Your home’s emergency supply kit should contain up-to-date copies of insurance policies and other documents such as medical insurance and auto insurance policies. A home emergency supply kit is recommended by the Federal Emergency Management Agency (FEMA). They provide a detailed list of essential items you may need in the event of a crisis.
#4. Check Your Fire Safety Equipment
Fire safety equipment such as smoke alarms is vital to protecting your home and your family. According to The National Fire Protection Association (NFPA), you should replace the batteries in the alarms at least once a year. You should also check your fire extinguishers to see if they are fully charged and ready to use.
#5. Review Your Homeowner’s Insurance Coverage
The last thing you want is to suffer a loss and discover that you are underinsured. For that reason, this new year’s resolution for homeowners is vital. Be sure to renew your homeowner’s policy soon and make any needed changes.
Have you renovated or added a room, replaced the roof, installed a pool or garage, or made any other major additions or improvements? If so, you may be underinsured. Talk to your agent to find out what changes you need to make to your coverage limits.
Insurance Tips for Homeowners from Sandifer Insurance Agency
Of course, the best insurance tips for homeowners are those you get from your agent. Sandifer Insurance Agency has been helping clients protect their homes and families for over 40 years. We are committed to making sure you get the best coverage available. Feel free to contact us when you are ready to review or update your policy.
As a family-owned neighborhood agency, Sandifer provides personalized service to Cheraw, SC residents, and surrounding areas. We work with some of the nation’s top insurance providers to help you get trustworthy, reputable service for homeowners, automobile, life, commercial, and farm insurance.
We invite you to reach out to us when you are ready to reevaluate your insurance coverage. One of our skilled agents will be happy to find the best insurance at an affordable price for your unique needs. It will only take a few minutes to ensure that your home is adequately protected from any unexpected crisis.
Contact us by phone, email, or online to get a free, no-obligation quote today. Knowing your home is adequately insured will help you enjoy peace of mind in the coming year.
Everyone at Sandifer Insurance Agency wishes you and your family a Happy, Healthy, and Prosperous New Year.