Home Insurance Check-Up: Why Fall is the Time to Review
Autumn is an ideal time for homeowners to take a closer look at their insurance policies. I know… sexy stuff!
I’m not sharing any national secrets when I state that premiums have been steadily climbing in Massachusetts and Rhode Island, particularly in coastal areas or properties located within flood zones.
FEMA’s Risk Rating 2.0 is still reshaping flood insurance costs, and insurers are also tightening their underwriting standards. That means coverage that seemed sufficient a few years ago may now be outdated.
PLEASE CALL ME TO CONDUCT A REVIEW OF YOUR CURRENT INSURANCE POLICY(IES). I MAY BE ABLE TO SAVE YOU SOME SERIOUS MONEY.
A Fall review allows homeowners to confirm whether their coverage limits still match the cost of rebuilding, especially with construction expenses having increased. This is a BIG DEAL! This is called “co-insurance” and you need to cover at least 80% of the replacement cost of your property to be fully insured. I can help!
It’s also worth checking whether deductibles—especially wind or hurricane deductibles—have crept higher.
On the brighter side, homeowners may be able to save by bundling policies or by installing smart detectors and other safety features… and we can discuss this =(seriously… whether the property is your primary residence or an investment property). One of the best steps is to ask your insurance agent (hopefully, me) to walk through a “what if” claim scenario. Let’s find those gaps that a quick skim of the policy would miss and provide you clarity before winter storms arrive.
