When Should You Update Your Home Insurance?

You don’t have to update your policy every month, 6 months or even every year, but you should be keeping track of what’s going on in your property on a daily basis to know when exactly you should update. If you’ve live in your home in Austin, TX for a while, then Ty Lawrence Insurance Agency wants to ensure that you stay protected both now and in the future. 

Changes and Times 

One of the nicest things about owning a home is the chance to improve upon the structure. You’re there to breathe life into the house, not to dismantle it. Home insurance can be a part of that, but only if you’re able to ensure the policy reflects what you do within it. Say you put in a new garage, shower or countertop. The costs of the renovation will increase the value of your home, and you want to ensure that your insurance company knows about it all. This way, it’s covered should something go wrong. It also means that if you buy jewelry, electronics or expensive art, you’re keeping those possessions protected as well by increasing the policy limits on what’s inside the house. 

Contacting Ty Lawrence Insurance Agency 

You don’t need to worry about your policy every time you go to the mall in Austin, TX, but you should be aware that you may have accumulated more value than you think in your home. If you’ve been there for even a few years, it can sneak up on you. Our agency has the people and the know-how to give you excellent advice to protect against a variety of natural and man-made events alike. Contact us for more information, or to see how much it will be to get the coverage you want.  

What are riders, and how can I use them to protect my valuables?

Residents of the Austin, TX area know how important it is to have good home insurance coverage. When you just can’t find a policy that insures a particular item or structure in your home, however, it can be frustrating. Fortunately, it’s often possible to add a rider or additional clause onto a policy that can offer coverage for a specific item.

There are thousands of different riders available, and in many cases, an agent can write one specifically for a particular object.  Riders can offer protections to things that are specifically excluded from a policy, they can offer a lower deductible for items that are already covered, and/or they can provide higher coverage limits.

For example, a home policy might specifically exclude jewelry with a particularly high value. A rider can be added to the policy that would reduce or eliminate the deductible for any jewelry that is lost or stolen.  It could also raise the coverage cap to cover high-valuable pieces.  In some cases, it may even be a good idea to list specific pieces along with their appraised values.

Riders can also be used to provide additional coverage for items that are specifically excluded. For example, many TX residents use a rider to cover buildings on their property that aren’t attached to their main structure. Barns, sheds, and docks often need to have an additional rider due to the high cost to replace these structures. Check with your agent to see if your policy excludes the items inside of these structures.

If you’re not sure what your current home policy covers, then call the agents at Ty Lawrence Insurance Agency. They can help you identify the gaps in your coverage and find a policy or rider that will fill it in.