When should you review your home insurance policy

America is the land of opportunity and owning a home is one opportunity many people want to take advantage of. Once you have finally achieved this pinnacle of success, you need to protect your home. Buying home insurance is not difficult but it needs to be kept up to date with your life. It is not something that should never change. Having an independent insurance agent who has your best interest at heart helps. In Fredericksburg, VA that is the Pete Webb Agency. We are locally owned and operated and enjoy working one on one with our customers. 

Your income rises

When you make more money you should take a look at your liability home coverage. Being sued is all too common and protecting yourself against this possibility is important. Depending on how long ago you bought your original home insurance policy, it may be very much out of date with where you are financially today. 

You have more content

Everyone accumulates a lot of personal possessions. Making sure you have adequate coverage to be able to replace the things you own is important. If you have actual value coverage you may want to consider replacement cost. If you have acquired expensive electronics, jewelry, or art, you may need to add a rider to cover the mount beyond what your traditional policy covers. 

Home value has increased

The value of your home may have increased for a variety of reasons. Real estate values may have increased in your area and rebuilding cost may have gone up as well. Make sure your home replacement value makes sense in your neighborhood. If you have made major updates or renovations this increases the value of your home. Discuss them with your insurance agent. 

If you have questions about home insurance coverage or any other type of insurance, Pete Webb Agency in Fredericksburg, VA is here to help.