Homeowners insurance functions as a crucial financial safeguard for one of your most important investments: your home. However, many homeowners often overlook the importance of regularly reviewing their coverage.
Why Review Your Homeowners Insurance Policy 
Consider reviewing your homeowners insurance for the following reasons:
- Changes in property value—Due to fluctuating market conditions and property upgrades, the value of your home may increase over time. Your policy should reflect this value to avoid underinsurance concerns.
- Coverage gaps—As your life changes, so may your insurance needs. Events such as marriage, the birth of a child or the possession of certain high-value items (e.g., jewelry or electronics) can create coverage gaps in your policy. Regular reviews can help adequately protect your assets.
- Policy updates—Insurance providers periodically update their policies. These updates can include changes in coverage limits, exclusions or new endorsements. Staying informed about these changes can help you make necessary adjustments to your policy.
- Discount opportunities—Reviewing your policy can also uncover potential discounts. For example, installing security features or upgrading your home’s electrical system might qualify you for lower premiums.
When to Review Your Homeowners Insurance Policy
Here are some examples of when it may be a good idea to review your homeowners insurance:
- Annually—A yearly policy review is best practice. It allows you to assess any changes in your home’s value, your personal circumstances and any updates from your insurance provider.
- After major life events—Significant life changes, such as getting married, having children or making substantial home renovations, warrant an immediate review of your policy to maintain adequate coverage.
- Before policy renewal—Reviewing your policy before renewal gives you the opportunity to compare rates and coverage options from different insurance providers, potentially saving you money.
- After natural disasters—If your community has experienced a natural disaster, it’s wise to review your policy to understand what’s covered and make any necessary adjustments.
Learn More
To review homeowners insurance options near you, contact Arches Insurance.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.