4 Reasons to Update Your Homeowners Insurance

May 08 2017

You may have chosen your homeowners insurance plan when you were first approved for your mortgage loan. But your insurance policy isn't something you want to sign up for and then forget about. There are many times in your life when it makes sense to re-evaluate how much coverage you need and make the appropriate changes.

Relocation -- Moving calls for numerous important tasks, such as forwarding your address, setting up utilities and hiring movers. Updating your insurance policy with your new home information should also be near the top of the to-do list.

Renovations -- Contact your insurance agent before you begin any work, whether it's a project you're doing yourself or hiring a professional to do. If you're going to move out temporarily while the work is performed, your policy will likely need an adjustment. And after the renovations are complete, you may need to update your coverage again, especially if the project has increased the value of your home.

Attractive Nuisance -- Attractive nuisances are potentially dangerous features, such as hot tubs, pools and trampolines, that could attract and injure children. These present new liabilities and may require additional protection. Talk to your insurance company before purchasing or installing one of these popular yet risky elements.

Valuables -- If you recently purchased, received or inherited expensive items like jewelry, artwork, rugs or family heirlooms, you may need additional coverage. Many standard policies cover valuables up to a certain amount, which is often not enough to replace them if they are stolen or damaged.

Whether you are buying, selling, or refinancing, it is important to have an experienced mortgage professional to help you analyze your financing options, and make sure the closing goes smoothly. As a loan officer with Blueleaf Lending, I have the expertise and experience to get you the right mortgage, and to handle your transaction professionally. With my experience, and our rates and programs, you are sure to get the mortgage that is right for you. Please remember to get me involved early on in your home-buying process. Starting the Process not only gives you a better idea of what you can qualify for, it also gives you a stronger negotiation position when you find the home of your dreams.