Here’s what you need to know about updating homeowners insurance.
Today, I’d like to emphasize the importance of checking and updating your homeowner’s insurance policy. Surprisingly, about 75% of individuals are unaware of their current coverage status. It’s crucial to review your policy annually or biennially, taking into account any property changes and economic shifts.
I highly recommend reaching out to your insurance agent to ensure you have adequate coverage. Factors like building materials and labor costs can significantly impact your policy. In California, fire hazards have been evolving, making it essential to have the right protection for your valuable assets.
Moreover, many people are unaware of what their homeowner’s insurance covers. For instance, if you experience a car break-in, your car insurance won’t typically cover the personal property stolen from your vehicle. It’s your homeowner’s insurance that comes into play in such situations. Therefore, it’s crucial to verify that you have the appropriate coverage in place.
Furthermore, if you’re renting out any spaces, such as a bedroom or a casita, it’s vital to have proper renters insurance. Whether you’re using platforms like Airbnb or housing long-term tenants, taking the time to review your policy and ensuring sufficient coverage is critical.
If you have questions about this, please call or email me. I look forward to hearing from you!