Is It Time to Update Your Home Insurance Policy?

If you have owned your Longmont, CO home for more than 10 years, it might be time to review your home insurance policy with your agent at 1st American Insurance Agency.  While your policy met all the requirements of your bank back when you moved in, does it really protect your most valuable investment now?

Are Your Home Improvements Covered?

Long-term homeowners often will add an extra room, install an in-ground pool, or erect a garage at some point.  If your home has not been reassessed since you’ve completed such projects, it may not be sufficiently covered by your home insurance policy. In a case of total loss, your policy should allow you to rebuild your home exactly as it stands today, not 15 years ago.

Could You Rebuild in the Current Market?

Since the housing crash nearly a decade ago, many real estate markets have fully recovered.  If you have paid off your mortgage, there’s a good chance that your existing policy only has your home assessed at pre-crash values.  It’s time to sit down with your agent and make sure that the structure and possessions have sufficient coverage to protect all your investments, ensuring that your home continues to provide for you for years to come.

Is Your Liability Up to Snuff?

As time goes by you might start a new business and begin to enjoy all the benefits of a good life.  However, if your liability portion of your home insurance policy only meets minimum requirements, your lifestyle can come under fire if somebody suffers an accident on your property.  Make sure that your Longmont, CO home insurance policy is able to cover most medical expenses in an accident by reviewing it with 1st American Insurance Agency today.