All too often, we assume our homeowners insurance policies will provide us with all the coverage we need, regardless of what happens. However, what you may not realize is the fact that as you buy new things or receive expensive gifts such as gold necklaces, diamond tennis bracelets and expensive rings, your homeowners insurance needs to be updated. Here's why:
When you first take out a homeowners policy, you work with your agent to build what is known as a "schedule list". This is essentially an inventory of valuable items in your home that, should you have a break in and have them stolen or a fire or water damage destroys them, has to be financially accounted for. What most people don't realize is that this list has to be updated whenever you bring expensive items into your home in order for the insurance company to compensate you for them in case something happens.
Many people do a home inventory as they do their Spring cleaning. That is an optimal time to do it since the Holiday season is over and Valentine's Day has passed, so most expensive gift giving is over. If you haven't updated your homeowners insurance in a while, now is a great time for you to do so. And, if you live in the Oakland, California area, now is also a great time to contact Cook, Disharoon & Greathouse to get a quote on updating your homeowners insurance so you know you have the financial protection for your jewelry, your home and all your belongings.
