June is National Homeownership Month — a great time to celebrate the pride of owning a home and to make sure that home is well-protected. Whether you purchased your first property last year or have owned your home for decades, your insurance coverage deserves a closer look every spring and summer.
Why Your Home Insurance Needs a Regular Review
Home values across the United States have changed significantly in recent years. If your dwelling coverage limit was set several years ago, it may no longer reflect what it would actually cost to rebuild your home after a major loss. Material and labor costs have risen, and a policy that once felt sufficient could leave you underinsured at the worst possible moment.
Renovations and upgrades are another common reason policies fall out of step with reality. Added a new bathroom, finished the basement, or installed a high-end kitchen? These improvements increase your home’s replacement value and should be reflected in your coverage.
What to Look at During Your Insurance Checkup
A thorough home insurance review typically covers several key areas. First, take a look at your dwelling coverage — the portion of your policy that pays to rebuild the structure of your home. Make sure this amount reflects current construction costs in your area, not just the market value of the property.
Next, review your personal property coverage. Think about major purchases made in the past year — electronics, appliances, furniture, jewelry, or sports equipment. Standard policies have sub-limits for certain categories like jewelry or fine art, so ask your agent if a scheduled endorsement makes sense for high-value items.
Liability coverage is often overlooked. This part of your policy protects you if someone is injured on your property or you are found legally responsible for damage to someone else’s property. Many homeowners carry the minimum; it may be worth exploring whether a higher limit or an umbrella policy fits your situation.
Finally, check your deductible. A higher deductible typically lowers your premium, but you want to make sure it’s an amount you could realistically cover if you needed to file a claim.
Bundling and Other Ways to Explore Savings
Many insurers offer discounts for bundling home and auto insurance, installing monitored security systems, or making certain home improvements like upgrading your roof or adding storm shutters. An independent insurance agent can help you explore the market to find coverage options that fit your needs and budget.
Take Action This National Homeownership Month
Your home is likely your most valuable asset. Taking a little time this June to review your coverage is a smart way to honor that investment. If you have questions about your current policy or want to explore your options, Mercer Insurance Associates is here to help. Call us at (304) 425-8000 or fill out a quote request on our website — we can help you shop the market for coverage that fits your home and your life.