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Express Financial & Insurance Services

3222 Santa Monica Blvd
Santa Monica, CA 90404

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Most Forgotten Home Insurance Basics

You have maintained home insurance for most of your homeownership journey- congratulations! But as they say, familiarity breeds contempt. Overfamiliarity can lead you to forget the basics of home insurance. Fortunately, Express Financial & Insurance Services is here to remind you of home insurance basics that you should have in mind to get the most out of your coverage.

Failing to read your policy

Whereas reading a home insurance policy isn’t everyone’s favorite hobby, this doesn’t let you off the hook. Your home insurance policy contains crucial information regarding what is covered and what isn’t. Before rushing to sign the dotted line, liaise with your insurance agent regarding any clause that you are unsure of. Misunderstanding your insurance policy can result in a bad experience during the claim process.

Using actual value instead of replacement value

Instead of using your home’s market value, you must consider the cost of replacing your home if it were to be rebuilt today from scratch. Again, if you are not sure of the value to use, consult your agent to avoid disappointments in the future. 

Not having a home inventory

Failing to have a complete list of your possessions could plunge you into a financial hole when disaster strikes. An updated comprehensive home inventory ensures that all your assets are covered, and you don’t forget any item when making a claim.

Reviewing your home insurance

If you own a home in Santa Monica, CA or any other part of America, you should update your home insurance at least once every year. Besides, the below changes should signal you to sit down with your insurance agent to review your home insurance.

  • Addition of family members
  • Significant renovations
  • Changes in local building costs

Having a trusted insurance agent that reminds you about your home insurance basics can help you avoid a nightmare experience when filing claims. Thankfully, you can trust Express Financial & Insurance Services for all your home insurance solutions if you are in Santa Monica, CA and its environs.