Make a Resolution to review your homeowners insurance

Mistakes in your home insurance can be costly

We’re going to be emphasizing homeowners insurance this year because small mistakes can lead to big problems. We are encouraging our current customers to sit down with us to review their coverages. If you aren’t already a customer, we would like to help you review your coverages and compare. With costs for homeowners insurance rising, it’s a good time to make sure you are getting value for your money.

Some of the biggest errors we find:

  • Named insured not the same as the owner on the deed. If the homeowners coverage is written for someone other than the owner of the property, the insurance company can deny coverage. This might happen if a property is transferred to a family member without notifying your agent.
  • Running a business on the premises. This could invalidate your coverage for buildings used for business. Also you may not have proper coverage for your equipment, inventory, and liability exposures.
  • Vacant houses. Depending on your company, there may be clauses in your policy that cut your coverage if the house is vacant.
  • ATVs, recreational vehicles, snowmobiles, golf carts, boats. These types of vehicles have limited or no coverage in the typical homeowners policy. Even a lawn tractor may not be properly covered if you use it off premises.
  • Do you have enough coverage to rebuild? Even though house sales have stagnated, rebuilding costs continue to rise. Make sure you have enough coverage, or see about a homeowners form that doesn’t require full coverage.

Give us a call (589-4477) to set up an appointment to review your coverages. We specialize in homeowners insurance, and would be happy to assist you.

Next steps:

Albion Agencies, Inc. is a licensed insurance agent/broker only in the State of New York.

The information in this post is general in nature, and geared toward insurance conditions in Western New York. As always, you should speak with an insurance adviser to determine your specific insurance needs.

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