The reason millions of homeowners purchase home insurance each year is to make sure they are fully insured in the event of property damage. The key is to have a year-round comprehensive plan that doesn't leave gaps in coverage. This, unfortunately, is not always the case for many people because they defer to update their policies or simply don't think about insurance enough to remain steadfast in their coverage pursuits.
The downfall is that homeowners may not find out about their policy details until after an incident has already occurred. In this case, it's not only too late to recoup lost money, but it may also lead to higher rates once you do finally decide to update your insurance plan. This is where confusion and anger typically set in for homeowners, as they realize they were, in fact, not covered to the extent they originally believed.
It's crucial that homeowners revisit their plans routinely so that they aren't left out in the dark.
Speak with your agent
Many homeowners insurance plans run on six-month time frames, which means you should speak with your insurance agent more than once a year if you wish to remain updated on all your policy specifics.
Not only should you go over what your current plan entails, but you should also take this time to ask about potential discounts you may be eligible for. On the other hand, don't sign up for any new programs on the spot. Rather, take a few days to go over everything with your family to settle on what works best for you and your home.
In addition, insurance companies usually run promotional deals that are only acceptable during certain time periods, so while you're revisiting your policy, you could have the added benefit of enrolling in a new, cheaper program.
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