Some homeowners in Pittsburgh, PA, believe that buying an insurance policy for their residence is a one-and-done deal. However, just as your life changes over time, so does your house. A policy that may have adequately protected your home and its contents in the past may no longer suffice today. Daniel Carinici Agency LLC can help you decide when to increase your home insurance coverage.
Staying Proactive About Your Home Insurance Needs
Periodic reviews of your home insurance should be undertaken at least once a year, typically before the current policy expires. However, certain scenarios may warrant reviewing your policy mid-term, especially if they increase the value of your home. Many of these involve renovations. Consider increasing your home insurance coverage if you’ve experienced any of the following:
- Building an extension or finishing a basement
- Renovating a kitchen or bathroom
- Adding a swimming pool or trampoline
While these changes can significantly increase your home’s value and replacement costs, adding a swimming pool or trampoline also increases your liability risk. In such cases, you may need to add umbrella insurance for adequate liability protection.
Your Personal Belongings
If you’ve added items like fine art, expensive jewelry, or high-end electronics, your current policy may not adequately protect them if they’re damaged or lost. Standard homeowner’s policies typically cover only a minimal amount, leaving you to pay the difference. Adding a rider for valuable items ensures proper protection.
Home-based businesses also receive minimal protection under a standard policy. You may need an endorsement or even a separate commercial policy to cover these interests.
Find the right home insurance when your needs change by contacting the professionals at Daniel Carinici Agency LLC, serving Pittsburgh, PA. Call our office for a consultation to ensure your home’s changing needs are fully protected.
