Have you thought about your insurance lately by real estate expert Michelle Green
Are you a homeowner that bought insurance when you first purchased your home in Parma OH, and then continue to pay the monthly payment, but don’t give your policy a second thought? Is there something special and unique about your home in Parma OH that at the same time may make it difficult to insure? Do you have special possessions that may need some additional insurance? Each of these questions represents a definite reason to carefully analyze your homeowner’s insurance to make sure that you are fully covered. In our discussion today, we will offer specific tips to help you know what to analyze in relation to your homeowners’ insurance policy.
Tip #1. Update your insurance coverage
It is important to review your insurance policy at least once a year. A lot of things change in regards to your life situations. A death or birth may have occurred. You might have done some remodeling so that value of your home in Parma OH increased. Another thing to remember is that costs to replace different items also change. So as costs rise, you may need to change your limits and coverage.
Tip #2 – Have you insured for special situations
As you analyze your insurance needs, you need to look at your situation, where you live, specific collections that you may own as well as the location of your property in Parma OH. Let’s look at some examples of what you may run into especially if you are an investor or a person that likes to restore homes in Parma OH. If you have remodeled your home in Parma OH and have used some special materials, then you definitely want to insure yourself accordingly. If you live in a state such as Ohio that often has some natural disasters such as tornados, you want to check with your agent to see how you will be covered or if there are some special riders that you might need to add to your policy. You want to be aware of events such as earthquakes, tornados, hurricanes, and even fires. Again, these are all questions or situations that you should discuss with your insurance agent.
Tip #3 – Do you have a special collection?
Do you have a stamp collection, coin collection, model railroad collection or even a collection of fine art? If you do, it is vitally important that you make this known to your insurance agent and that you cover it accordingly. These may not be covered in a normal household policy, so you definitely want to find out if you are properly covered.
There is a lot of free information available to you about buying, selling or investing in Parma OH real estate. For complete information about the Parma OH real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Parma OH real estate at ParmaHomeSale.com. Please feel free to contact me with any of your real estate or mortgage related questions and I would be more than glad to answer your questions. Call me on my cell at 440-342-0269.