Home insurance is designed to protect you against unforeseen events that can lead to financial loss. The protection you receive, however, is only as good as the accuracy of your coverage. If it’s been a while since you updated your policy, you may have inaccurate coverage. A visit to your San Marcos Insurance Group agent in Chandler, AZ can help you determine if it’s time to increase your home coverage.

Reasons to Increase Home Insurance Coverage

Standard homeowners’ policies offer dwelling, property, and liability coverage. Over the years, your home and personal property may undergo significant changes that require an update to your insurance policy.

Major home renovations, such as adding a bedroom or backyard patio to your property or remodeling your kitchen, will increase your home’s value. If your current dwelling coverage is less than the increased value of your home, your home won’t be fully protected from a major disaster.

Another factor to consider is the rise in the market value of your property. Your home may be worth much more today than several years ago. If you haven’t updated your policy in a few years, you probably have insufficient dwelling insurance to protect your property thoroughly. Ideally, this coverage should be enough to rebuild your home if it’s totally destroyed in a disaster.

In like manner, your property insurance should be enough to repair or replace personal goods damaged or lost in a disaster. If you’ve acquired costly goods over the last year, you may need to increase your property coverage to protect these assets. Otherwise, you could replace them on your own if they’re stolen, damaged, or lost in a major disaster.

Where to Update Your Policy

For help upgrading your home insurance to obtain up-to-date coverage, contact San Marcos Insurance Group in Chandler, AZ.