Is Your Plan Ready to Stand the Test of Time? Keep Your Homeowner’s Policy Up to Date!
In a world of crazy schedules and more than you fair share of things to keep up with, it might feel like insurance policies are a “set it and forget it” deal, but is that actually true?
Well, not really.
While insurance policies don’t require daily, weekly, or even monthly “maintenance,” they do require some monitoring, especially if you are committed to protecting your home and property in the best way possible. We suggest setting a time each year to do an annual review of your policies with your insurance team, so you can be confident in your coverage no matter what comes your way. There are several factors to consider when you evaluate your policy each year, including:
- Any changes to your home since your last policy update. If you have made any additions (like a pool, a deck, or square footage), done remodeling/renovating, or made lots of improvements to the roof, appliances, plumbing/electrical systems, etc., it’s important to take note of these with your insurance advisors and adjust your coverage accordingly.
- The age of your home, and any changes in building codes. If your home is out of code, it will be grandfathered in as long as you live there, but if something happens and you have to rebuild, you’d be left holding the bill for upgrading to the new codes, as rebuilding usually ends up costing more than your available coverage will allow.
- The cost of materials and accounting for inflation. Inflation is a hot topic right now, and while the last couple of years have had some pretty extreme price hikes, even “normal” years can have some swings in the cost of materials and labor. Taking these into account is a big part of developing your insurance plan. Making sure you have a “buffer” to cover these makes sure you’re going to get the help you need from your plan if and when you need it.
Carroll Marshall Insurance is proud to provide insurance advising and sales services to the Winter Haven area. We work with you to customize an insurance plan to fit your specific needs. We help you adjust as your family grows, as your portfolio changes, and as you go through the various seasons in life. Call our team to discuss your coverage options and find out how we can help you save money, and enjoy the peace of mind that comes with knowing you’re prepared.