Lots of homeowners have questions about what their insurance actually covers but unfortunately many don’t find the answers until they have damage from a fire or natural disaster. One of the easiest ways to determine what is and isn’t covered is to look at the Declaration Page of your policy, which is basically a miniature summary of your coverage.
Be sure to look carefully at the exact description of your property on this page because over the years, you may have improved your home by finishing the basement, adding a deck, upgrading appliances, or installing new flooring. If you have upgraded your home, but never updated your insurance policy, then you may run into trouble if you ever need to make a claim for a loss.
The good news is that the solution is easy. Just make a list of the improvements to your home and ask your insurance agent for a review of your policy.
Of course, if you do need additional coverage you’ll probably see an increase in your premium, but at least you’ll have protected the investment in your home.