As a homeowner, you understand that keeping your family’s home insurance policy updated is more than just a matter of keeping up with your mortgage obligation. It’s also a key part of protecting those who live in your home as well as your investment in your future. Your homeowners insurance policy helps provide you with peace of mind to know that if anything should happen unexpectedly to your home, your family will be okay. The last thing you want to do is not have the coverage you need because you overlooked a change that needed to be made in your policy.


At Value Plus Insurance, we work hard to make sure Minnesota and Wisconsin homeowners have the home protection they need when they need it. In this post, we’ll talk about how to know when it’s time to make changes to your homeowners insurance policy.


Understanding the Role of Homeowners Insurance

It’s likely that you understand the purpose of homeowners insurance. But what many first time homeowners don’t realize is that homeowners insurance is often more than one type of home insurance that has been bundled together. This bundle package often covers your family against individual members’ liabilities. It also protects your family from dangers that can arise.


These are a few examples of things your policy may cover:


●        Theft

●        Lawsuits

●        Injuries occurring on your property

●        Fire

●        Some natural disasters


Determining How Much Coverage You Need

When determining how much insurance coverage you’re going to need, we begin by assessing the cost it would require to rebuild your home entirely. Your home’s architectural style, square footage, and number of rooms will all play a role in determining the cost to rebuild. Decorative features like masonry work and specialized materials, fireplaces, swimming pools, and detached buildings will all be taken into consideration as well.


Signs Your Policy Needs to Be Updated

Over time, your family size or living situation can all change, and far too many homeowners forget to update their insurance policy. You don’t want to be caught unawares if you should have an emergency that requires you to use your policy.


Be sure to change your policy if any of these changes occur:


●        Your family adopts a new pet.

●        A new child or family member comes to live with you.

●        You’ve rented out a room.


Keep Your Home and Family Safe with Value Plus Minneapolis Home Insurance

If you’re a homeowner, it’s a good idea to add a yearly insurance audit to your annual household to-do list. That way, your home and family are safe no matter what comes your way.


If you need help assessing your family’s insurance policies to determine if your coverage is enough, our Value Plus Insurance team can help. We work with homeowners in Wisconsin and Minnesota as a broker for a variety of policies and can help you choose the best one for your needs. Connect with one of our insurance agents by calling us at 952-435-0550, or contact us to find out more about our home insurance policies.