Many homeowners are unaware that their policies do not reflect the current needs of their home. As public adjusters, we recommend reviewing and updating your insurance to avoid surprises in the event of a claim. Here are the key coverages you should evaluate:
1. Building coverage (Dwelling Coverage)
- What to check: If you have made renovations or live in an area with construction inflation, your coverage may be insufficient.
- Why it matters: Reconstruction costs have risen by up to 55% between 2019 and 2022, and many insurance policies do not automatically adjust their insured amounts.
- What to do: Contact a contractor or appraiser to recalculate the actual reconstruction value per square foot, and adjust your guaranteed sum (extended/guaranteed replacement cost).
2. Exclusions and necessary additional coverage
- Flood coverage: Almost no standard insurance covers floods; without it, you won’t be compensated for severe leaks either.
- Mold, sewer backup, earthquakes: Basic insurance policies often exclude these types of damage. Ask about specific add-ons or riders.
- What to do: Review your policy with your adjuster or agent to identify exclusions and add extensions if you live in a high-risk area.
3. Differentiated deductibles
- What to check: Some policies apply deductibles of 2–5% of the home’s value for hurricane or wind damage, while other claims have lower fixed deductibles.
- Why it matters: You could pay thousands of dollars for a storm without even reaching the deductible.
- What to do: Find out how much your deductibles are for each type of loss and whether you can adjust them with discounts or more efficient rates.
4. Coverage of personal property and living expenses
- What to check: Your policy should cover personal property and relocation expenses if you cannot live in your home.
- Why it’s important: A fire or flood can leave you homeless; living expense coverage allows you to continue your routine.
- What to do: Check coverage limits, including maximum durations (months or years) and whether they cover all your costs.
5. Civil liability and additional coverage
- What to review: Personal liability coverage and valuable items such as jewelry, artwork, or collections.
- Why it’s key: Accidents in your home can lead to costly claims if you’re not covered; valuable items require special riders.
- What to do: Make sure you have adequate coverage, including limits on jewelry, collectibles, and liability up to at least $300,000.
6. Discount and renewal opportunities
- What to check: See if you can get discounts for mitigation measures, such as alarms, new roofs, wind-resistant windows, etc.
- What to do: Ask about savings and be sure to inform your insurance company about any improvements made.
How can a public adjuster help you?
- We conduct a comprehensive audit of your policy and build a detailed history of improvements and risks.
- We detect missing coverage and advise you on adding important riders.
- We negotiate with the insurer if your home is not adequately covered to guarantee you real protection, not just promises.
Updating your insurance is not a luxury, it is a necessity nowadays. Annual reviews or reviews after renewals prevent a claim from turning into a financial crisis.
If you don’t review your policy at least once a year, you could be underinsured when you need it most. As public adjusters, we are here to help you optimize your coverage and protect your assets.
Write to us at The Claim Partner for a no-obligation review: we will inspect the damage, advise you, and represent you so that your insurance policy is truly useful when you need it.