Having a homeowner’s policy may not be enough to protect you financially if you don’t have enough homeowner’s insurance. There are several factors you should consider to determine whether you have enough homeowner’s insurance. S&S Insurance Services Inc. works hard to provide Oklahoma City, OK residents with the right homeowner’s policies.
Costs of Rebuilding
If you have made significant renovations or upgrades to your home, you may need more insurance coverage. If your home’s value has gone up, you must be sure that your coverage limits reflect this. Rising property values can also raise the value of your home significantly.
Ideally, it would help if you were sure you have enough coverage to replace or rebuild your home. Increasing property values mean that replacing your home will be more expensive as well. If you’ve made renovations, then you’ll need enough coverage to purchase a home of equal value and quality.
If you have recently acquired top end items, you may need a rider for your policy to provide adequate coverage. Policies place coverage limits on your personal property as a whole and also on individual items. If you’ve purchased antiques, jewelry, or art, speak with your agent to see if your policy adequately covers them. It’s also wise to add up the value of everything in your home. If it’s more than your current coverage limit, consider increasing your limit.
Liability coverage is often an afterthought for homeowners, but it’s just as important as dwelling coverage. If someone is injured on your property, you could be liable for the damages. Swimming pools and pets can increase your liability risk, and a standard policy doesn’t cover some breeds of dogs. It’s important to know your liability risk and be sure you have enough liability coverage.
At S & S Insurance Services Inc. in Oklahoma City, Ok, our agents take the time to discuss your circumstances and help you decide how much homeowner’s insurance you need. Contact us today so you can enjoy your home knowing that you are protected from potential disasters.