Signs You Should Update Your Homeowners Insurance Policy Soon

Your homeowners insurance policy protects one of the biggest purchases you'll ever make, and you could be missing out on vital protection if you don't carefully review a new or updated policy. Over or underpaying for insurance means losing money you can't get back, which is why you should review your policy at least every two years, according to Travelers.com, to ensure you're getting the best deal and ensure you have the coverage you need.

You've Recently Remodeled

You can pay yourself back for the investments you've made in your home by updating your homeowners insurance policy after renovations or buying valuable goods. Updates to your policy will depend on the nature of the remodel, like adding a home office or gym, updating a bathroom or kitchen, or installing home security features.

Your Previous Claims Experiences Were Frustrating

Before signing a new policy, many homeowners make the mistake of not carefully vetting insurance carriers the first time around or default to the least expensive option. Cheaper insurance carriers may not be as responsive when you need them most, and nothing's more frustrating than a slow-moving claims process or feeling like the insurance adjuster is working against you.

You've Never Compared Home Insurance Rates

Many first-time home buyers make the mistake of simply purchasing a new policy—because they need one—and then forgetting about it. Failing to keep up with changes to insurance premiums in your area could mean losing out on better coverage for a better price. You don't necessarily have to switch insurance carriers every time, but it's best practice to shop around and be aware.

Make an informed decision about your next homeowners insurance purchase by working with a reputable agent from Insurance Lounge. We've offer plans in all major insurance categories and can provide personalized recommendations for your quote. Learn more about how we can help you find the right coverage in minutes.