It’s a great time of year to check your homeowner’s insurance coverage… Compare rates and options, shop insurance products for value, and be sure to review your owner’s policy against community or HOA coverage so you can secure the most seamless coverage possible with the help of your insurance agent. From time to time, communities make changes to their policies (carriers and/or coverage). Some communities will shop carriers, adjust deductibles or scope of coverage or accept first loss provisions to try to reduce the cost of community coverage.
Your personal coverage needs may also have changed. It’s a good idea to review the question of “riders” to your policy once a year as well (or any time there is a change to your circumstances that would need an evaluation). Among other items, you may want to ask about coverage for expensive jewelry, fine art, family heirlooms, camera equipment and computers, water beds, aquaria and even some kinds of pets from exotic animals to four legged buddies including dogs.
Periodic review of the master policy declarations with the guidance of your insurance agent will help you secure the best policy for your needs and budget!
For those homeowners who have financing on their homes… When there is any change to coverage (community or owner’s policy), be sure to notify your mortgage company. Mortgage statements vary from one company to the next, but often you’ll find instructions on the reverse side of the monthly statement which include contact information for insurance. Be sure to relay updates or changes or corrections with a reference to your property address and mortgage account number and send with proof or confirmation of delivery. Always follow up to be sure your communications have been received and to answer any questions your mortgage lender may have about your insurance account.
One additional thought for now… Be sure payment is timely made and you have confirmation that your policy remains in continuous effect.
We hope you’ll remember us when you’re ready to take the next steps toward owning a first home or transitioning from one home to another!
My Atlanta Home Search
We’re here to help and would be delighted to chat with you about the home you’re hoping to sell, and the home you’re hoping to find!
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