• calendar_month January 10, 2025
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Homeownership brings a sense of security and accomplishment, but it also comes with responsibilities—one of the most important being adequate insurance coverage. With rising costs in construction, materials, and labor, it’s crucial to evaluate whether your homeowners insurance policy is keeping up with your needs.

Why Review Your Policy Now?

The start of a new year is an excellent time to review financial plans, including your homeowners insurance. Here are key reasons why:

1. Inflation and Market Changes: The cost of rebuilding has significantly increased in recent years. If your policy hasn’t been updated, you could be underinsured, leaving you to cover the gap out of pocket.

2. Natural Disasters: Recent wildfires and extreme weather events in California highlight the importance of adequate coverage. Review your policy to ensure it includes protection for the risks in your area.

3. Home Improvements: If you’ve upgraded your home—such as a kitchen remodel or adding solar panels—your policy may not reflect the increased value of your property.

4. Policy Updates: Insurers periodically revise their terms and limits. It’s wise to confirm you understand your coverage and any changes.

What to Check in Your Policy

• Dwelling Coverage: Does your policy cover the full cost of rebuilding your home today?
• Personal Property: Ensure the limits align with the value of your belongings.
• Liability Protection: Verify that your liability coverage is sufficient to protect your assets in case of an accident.
• Additional Living Expenses (ALE): If you’re displaced due to a covered event, does your policy provide adequate funds for temporary living expenses?

Next Steps

1. Talk to Your Insurance Agent: Schedule a review to discuss your current policy and potential gaps.
2. Compare Policies: Shop around to ensure you’re getting the best coverage for your premium.
3. Document Your Home: Take photos and inventory your belongings. This will help during claims and ensure nothing is overlooked.

Peace of Mind for Your Most Valuable Asset

Being underinsured is a risk no homeowner can afford. Reviewing your policy ensures you’re prepared for the unexpected, protecting both your home and your peace of mind.

At JohnHart, we’re here to guide you through every aspect of homeownership. If you need recommendations for trusted insurance providers or advice on navigating your coverage, don’t hesitate to reach out.