Update Your Homeowners Insurance Annually to Stay Protected

Make sure your homeowner's insurance is upgraded
along with your projects!

How would it feel to reset your home to how it was when you first bought it? Would you be alright with living without any renovations you’ve made while still suffering the cost of the renovations? Of course not – which is why the Equifax Finance Blog points out why it’s important to keep your homeowner’s insurance in the loop in the recent article, “Renovating Your Home? Renovate Your Insurance Policy.”

For home improvement large and small, it’s important to keep a running track of your upgrades and their costs. Make sure to submit the list to your homeowner’s insurance each year or more often if you are having major work done. This protects your progress, allowing you to get the most money returned to you in the event of a disaster. To make it easier, it’s best to make a habit out of it and set a schedule with reminders as necessary to send updates to your policy holder.

If you are working on a bigger upgrade, it’s also a good idea to consult your insurer beforehand. They probably have key information about policy discounts for certain improvements, which can save you money on the project now and later in the event of disaster like a fire or flood.

Check out the Equifax Finance Blog for more reasons to keep your homeowners insurance policy updated, as well as ways to save money on everything related to personal finance.