Is There Enough Homeowners Insurance to Cover Your Home?

Is There Enough Homeowners Insurance to Cover Your Home?

It is always a good idea to review your homeowners insurance at least once a year to make sure that you are fully protected. 

Your homeowners insurance coverage needs to protect your home from all the risks that pose a threat to it. Home improvements, big purchases, and new attractive nuisances are all reasons to update your homeowners insurance policy as these factors affect your home’s value. Without the proper insurance, you will be left to pay out of pocket which may drain all your savings. Here are a few things you should know if there is enough homeowners insurance to cover your home.

Do you have enough insurance to completely rebuild your home?

Some people only purchase enough coverage to satisfy their mortgage payment. They fail to realize that if their home is completely disintegrated, they will need additional coverage to rebuild their home and replace their things. When reviewing your policy, make sure that you have enough coverage to completely reconstruct your home and get reimbursed for your assets.

Did you make any home improvements or purchase big-ticket items?

Home improvements and big-ticket items affect the value of your home. If you refurbished your kitchen and bathroom, for example, the value of your home likely increased which means you need to update your policy to cover this increase. Big-ticket items may not be covered by your policy as there is a cap for individual items, make sure you have enough coverage for these items.

Are there new attractive nuisances on your premise?

Things like pools, trampolines, tree houses, dogs, and other fun things are considered by insurance companies to be “attractive nuisances” – things that are attractive to buy but increase the risk of liability in your home. Make sure your policy covers these things!

The right policy can cover you for all risks that pose a threat to your home. For the right homeowners insurance, contact the independent insurance professionals at Risk Management LLC in Brookfield, Wisconsin.

  • Risk Management assisted me in determining the best insurance coverage to match my business’ risks. Not only did their professional staff spend ample time meeting with me to understand my business, but they continue to follow up with a phone call on a regular basis. I’d consider each of the members on the Risk Management team a true asset in my corner, as they assist to resolve complex insurance issues including GL, Med-pay, business interruption, unemployment insurance, and most importantly, claims management. Their ongoing research in the insurance industry allows my rates and coverage’s to be best in in class, which helps me to remain competitive in my industry.

    -Steve, S. former owner of Helium Trampoline Park

  • “When we want develop partnerships with vendors, the deciding factor is always based on a single question…Do they pick up their phone? At Risk Management, they pick up their phone. In the indoor trampoline park industry, we have dealt with several insurance agencies that were always more concerned about their commission, not building a business relationship or serving our needs. On more than one occasion, Risk Management has stepped in and helped us with carrier/policies issues that the incumbent agencies had dropped the ball on. There was no financial reward for Risk Management in these situations, they see a problem and help fix it. They just do business the right way. Steve Young and his team at Risk Management represent us, not the carrier. We highly recommend Risk Management.”

    -Mark M. Operations Manager,CEO Fun Palace Place

Address: 21420 W. Greenfield Ave Ste 100
New Berlin, WI 53146
(262) 785-8930
Toll Free: (888) 857-5144
Fax: 1 (800) 424-3955
Risk Management LLC BBB Business Review

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