As a homeowner, it’s imperative to have your insurance coverage reviewed on a regular basis. This helps to ensure that your current coverage is up to date with the approximate costs of repairing or rebuilding your home or replacing its contents. While this could lead to higher premiums, it helps you to be more adequately insured and less vulnerable to high out-of-pocket expenses.
Read on to learn five factors that can affect your insurance premiums and how MAC Insurance & Financial Services can help you find the right coverage!
Home Remodeling
Home renovations and remodeling are an undeniably exciting time! But it's easy to get wrapped up in the excitement of your home projects and forget that remodeling can affect your homeowners insurance rates.
If you are remodeling one or more rooms in your home or tackling any projects that will increase the value of your home, it’s important to talk to us about adjusting your coverage.
Pools, Trampolines, and Other Fun Things
Pools and trampolines are known in the insurance industry as attractive nuisances. Sure, you may love relaxing by the pool while your kids and their friends have fun jumping on the trampoline, but these items can cause your insurance premiums to increase.
If you have added a pool, a trampoline, or something of a similar nature, be sure to let us know so that we can discuss how adjusting your coverage can benefit you. Did you know that you may be liable if someone is injured while using your pool or trampoline? Let us walk you through how to best set up your coverage levels so you're totally protected!
Home Security
Home security systems and technology have advanced tremendously in recent years and as your agents, it's important that we know about any systems you may have in place. Do you rely on old locks or do you have a more sophisticated monitoring system? Homeowners who have antiquated forms of home security are at an increased risk for a home invasion that results in a loss, increasing their insurance premium as a result. On the other hand, homeowners with a modern home security system may benefit from reduced premiums and greater peace of mind.
Working From Home
More and more people are working remote jobs, and some folks are operating entire businesses out of their home. If you work from home or operate your business, there may be a need for additional coverage for possessions like business vehicles, electronics, equipment, and inventory. Additional liability coverage is also necessary as customers will be on the premises. If you run a business out of your home, it's time to consider adding an endorsement to your homeowners policy or purchase a separate business owners policy.
The Age of the Home
As your home and roof get older, they become susceptible to damage from the elements or internal deterioration. It’s important to keep in mind that as replacement costs increase over time, your insurance policy will need to be adjusted too.
At MAC Insurance & Financial Services, we are here to provide better coverage for a better premium value, and that starts by contacting us to see how we can help you! 303-368-3000