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June 27, 2024

How to Update Your Homeowners Insurance Policy

Homeowners insurance can play a necessary role in responsible homeownership, potentially providing financial protection against unexpected damages and losses. However, as your life evolves and circumstances change, so do your insurance needs. With this in mind, the team at Dunton Insurance Agency proudly offers guidance regarding why and how you should reassess and adjust your home insurance as necessary.

Why You May Need to Update Your Home Insurance Happy Couple Holding and Showing a House Key

You might need to update your home insurance policy for several reasons. Regular reassessments may be advisable regardless of recent events, but you should be especially mindful of your coverage needs as they may relate to the following:

  • Moving—If you plan to move to a new home, you will need a new homeowners insurance policy. Depending on how far you plan to move or how different your circumstances will be, you may need to enlist the services of a new agent. Additionally, you should be aware of any early termination details in your existing policy.
  • Home improvements—If you’ve made significant improvements to your home, such as a kitchen remodel or an addition, your home’s value may have increased. You’ll want to ensure your policy reflects this increased value.
  • Major life changes—Events like marriage, divorce or having a baby can affect your insurance needs. For example, you may need to increase your liability coverage if you have a new family member.
  • New valuables—If you’ve acquired valuable items, such as jewelry or artwork, you may need additional coverage to protect these investments.
  • Neighborhood changes—Factors like increases in local crime rates or the risk of natural disasters can affect your insurance needs.

Key Steps to Updating Your Home Insurance

When revisiting your home insurance or purchasing a policy for a new home, be diligent and consider the following steps:

  • Assess your needs. Changes in your life can affect the type of coverage you need. Have you made significant home improvements? Have you purchased expensive items that need coverage? Assessing your current situation can help you determine what changes are required in your policy.
  • Get an updated appraisal. If you’ve made significant improvements to your home, it may be worth more than when you bought your policy. An updated appraisal may ensure your home’s value is accurately reflected in your policy.
  • Compare different options. Don’t hesitate to shop around. Different insurance carriers may offer different rates and coverage options. Consider enlisting the assistance of an independent agency, such as Dunton Insurance Agency, which can help you explore the products of various providers and find the best rates for suitable coverage.

We’re Here to Help

Updating your home insurance policy is a vital part of maintaining financial security. Regularly reviewing and updating your policy ensures that you have the coverage you need when you need it most.

Contact Dunton Insurance Agency today to learn more.


This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information. 


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