Review Your Insurance Coverage

Now may be a good time to review your existing insurance coverage and the protection you have, since home improvements most often increase your home's value. In fact, your home has probably been increasing in value since the day you bought it. Your existing insurance policy should reflect this increase in value.

To evaluate your insurance coverage, consider the value of your home as well as the value of the personal possessions in your home. To help with this process, take an inventory of your personal possessions before any construction begins.

Take an Inventory

Both the number and the value of your possessions will probably amaze you. Be sure to write down a list of all your valuables, including any serial numbers. Take photos of all valuables and put the photos in a safe deposit box.

The following summary will serve as a guide to help you determine whether your property insurance policy gives you the coverage you need.

Total Value of:
Personal Inventory of All Rooms	$__________
Amount of Insurance	$__________
Difference	$__________

If you find your present coverage deficient, now is the time to get the coverage you need. An insurance review with your agent can help you determine whether your home's value has increased beyond the limits of your current coverage.

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