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Understanding Your Home Insurance Policy: A Necessity, Not an Option
Many people are often overwhelmed by the length of their home insurance policy and end up failing to read it. This can result in significant challenges when filing a claim. At Wichalonis Insurance Agency in Cumming, GA, we are independent insurance agents who believe in offering our customers the personalized attention they deserve.
Analyzing Your Coverage
The declaration page, usually the first page of your home insurance policy, outlines your coverage. Check your home’s replacement cost, your content coverage, liability coverage, and loss-of-use insurance.
Ensure your liability coverage is adequate. If your income and net worth have increased, or if you’ve added a dog, a trampoline, or a pool to your home, you likely need to raise your home policy’s liability coverage.
Evaluate Your Coverage Amounts
If you’ve made significant renovations or additions to your home, your coverage amount may need to increase. Examine your content coverage for any limitations. If you own more jewelry, antiques, artwork, or electronics than your policy covers, consider adding a rider for additional coverage.
Inspect Your Deductibles
Your policy includes a deductible, which applies to most coverages, and is charged for every claim, not just once per year. While increasing the deductible may reduce your premium, remember that this amount is an out-of-pocket expense.
Review Your Exclusions
Examine the exclusions listed in your policy. You may want to add coverage for incidents like floods, earth movements, and sewer backups.
Please feel free to call the Wichalonis Insurance Agency in Georgia if you have any questions about home insurance coverage. We are always here to help you understand your policy and determine your exact needs.
