August 20, 2013

Is it Time to Review Your Homeowners Insurance Policy?

Here at Team Troy, we want to make your buying, selling, and homeowners experience as trouble-free as possible. As a part of this service, we want remind our clients to stay informed about your homeowners insurance!

Have you checked your plan lately? There are tons of life changes that may trigger a need to review your insurance coverage. For example, you might be performing some home renovations, bringing home a new dog, installing a trampoline… the situations are endless!

An annual review is essential in best protecting your family’s home and belongings. Many homeowners set up a plan at move-in, but periodically reviewing your policy can prevent gaps in insurance coverage. For instance, if ten years ago your home was worth $300,000, now your property could be worth $100,000 more… you will want to insure that portion of your real estate!

We suggest reviewing your homeowners insurance policy every 6-12 months, or at least when you receive your annual renewal notice. You never know what sort of adjustments could be due; it could even be in your benefit to talk with a professional (for example if you installed a burglar alarm), which could trigger a hefty discount.

Why is Homeowners Insurance Necessary?

In the event of a disaster or accident on your property, homeowners insurance provides a safety net that can protect your real estate investments from possible depletion. The average homeowners insurance policy typically covers:

  • Real Estate Property: Protects your home in the event of a disaster
  • Other Structures: Coverage for detached garages and sheds
  • Contents: Protects your personal belongings within your home in the event of a mishap (furniture, appliances, etc.)
  • Loss of Use: If your home becomes inhabitable due to peril, your policy insures shelter, dining, and basic living expenses
  • Personal Liability: Provides financial protection for injuries to another person on their property
  • Additional Home Coverage: There are tons of lesser-known benefits of homeowners insurance including but not limited to power outages, new mandates for Seattle homes, falling debris, pet bites and more! Connect with a professional today to find out more.

Mailbox in Flood Waters

Our Team has helped numerous people in the Greater Seattle Area purchase and sell their Seattle homes, and in the process have connected with some fantastic Insurance companies in the Puget Sound Region. Check out a list of our preferred venders for Seattle Homeowners Insurance: