Do you often hear about the importance of conducting an annual review of your CT homeowners insurance coverage? We find that many Connecticut policy holders hesitate to conduct a review because they are uncertain how to go about it. Your home and its contents are probably your most significant investment, and an annual review is aimed at ensuring that these assets are adequately protected. 

The first step in conducting an annual review is to update your home inventory and estimate the current value of your personal belongings that are covered by your policy. Next, estimate the current replacement value of your home; this can be done using online software in a calculation that includes the square footage of the property and current building costs per square foot in the locality.

With these values to hand, call your agent or insurer company and ask these three questions:

1)    Is the coverage on my home and home contents adequate? Is it too much?

2) Is my premium as low as possible? Do I qualify for additional discounts?

3)    Am I exposed to any risks that are not covered in my current policy?

4)    Am I getting good value or is it time to obtain some new quotes?

Remember to mention anything significant that may affect your coverage, such as a new home business, the purchase of a valuable art work or a major home improvement project that you’ve completed. Your discussion with your agent or insurer should identify any gaps in your CT homeowners insurance coverage that need to be addressed. With Chelsea Insurance Agency, you can get the coverage you need with our agency. Contact us today for more information!

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