Homeowners Insurance Arizona

Have you tuned up your homeowners insurance recently? Luckily in the state of Arizona , the Sate Insurance Department provides homeowners with information on how to be sure they have the right amount of insurance.

In essence, an insurance checkup is a review of your policy coverage and risk. It ensures that you are properly covered in the event of a loss. It's better to be prepared than surprised. Usually a checkup occurs annually upon policy renewal; but if you're aware of changes that have occurred, tune up your insurance when necessary. An addition to the house means it's time for a tune up.

To perform the checkup, call your insurance agent and have a discussion. For example:

1. Contents: Check to see if you have enough coverage on the contents of your house. Have you purchased new computers or high definition TV? If so, maybe you might need to update the coverage limit.

2. Home adequately insured: Did you make major updates? Did you ad an addition, are the houses in our area increasing in value significantly? Although, houses are insured based on replacement cost, the increase in market value may mean that the cost to replace your home might have increased.

3. Jewelry: Your homeowner's policy provides basic coverage for jewelry, furs, and other items. Talk to your agent to see if your recent gifts or purchases exceed your policy's basic coverages. You might need to buy a rider to specifically cover some of these items.

4. Deductibles: Can you afford to raise your deductibles? If you purchased your policy several years ago when you were new in your job position and have since earned several raises, you might be able to raise your deductibles and eat the first few hundred or thousand dollars of a loss to reduce our premium.

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