When the home was purchased, one of the first things the new owner did was purchase homeowners insurance in Wichita KS. Since that time, the policy has remained safely tucked away in a drawer. Other than making time to pay premiums or file away renewal notices, the owner does not give the plan any attention. The fact is that since the date the coverage was secured and today, quite a few things have changed. This could mean a change in the scope of coverage is needed.
Cost of Replacement
What would happen if the home were destroyed in a natural disaster, or if a flaw in the wiring led to the total destruction of the house? Depending on the terms in the homeowners insurance in Wichita KS, there may or may not be enough benefits to rebuild. The only way to know for sure is to read the terms and see what criteria is used for determining the amount that the insurance company will provide to the client. If necessary, talk with an agent and project what would happen in this type of situation. If the projection is not all that favorable, it is time to make some updates to the coverage.
The Deductibles
Back in the day, the homeowner chose to go with lower deductibles on certain points of coverage. Given that finances were tighter at that time, it made sense to pay a slightly higher premium for the homeowners insurance in Wichita KS and not have to scramble to find money to cover those deductibles if a covered event occurred. Now that time has passed, and there is more money in the savings account, it may be wise to take a second look at the current deductibles. An agent can help the client determine what sort of savings could be generated by adjusting the amounts. If the difference is worth it, and the homeowner can easily cover those new deductibles, then this approach is worth considering.
For help with exploring options for updated home insurance, contact Andy Woodward Insurance Agency today. It will not take long to compare the current plan with other options on the market today. In the best case scenario, the homeowner will end up saving a lot of money without compromising on coverage.
