Hoping Santa brings you something really special this Christmas, like fancy new fishing equipment, a TV the size of a small car, or a brand-new diamond necklace? We hope you get your wish! Once the wrapping paper is all cleaned up and the holiday excitement has died down, there’s one more thing to do before the holidays are over – review your homeowners insurance coverage.

While most people think that insurance is sort of a “set it and forget it” kind of thing, there are lots of reasons to do an annual coverage check-up to make sure that, if you end up filing a claim, you’ll have the coverage you need to put your life back to normal after an incident. Here are five reasons you should double-check your insurance coverage after Christmas.

1. Make sure your expensive Christmas gifts are protected 

If Santa delivered expensive gifts like jewelry, electronics, furniture, or new appliances, you want to make sure your homeowners insurance carries enough personal property coverage to replace or repair them if you experience a break-in, fire, or devastating storm.

2. Do you need insurance for your new gas-powered toys? 

Gifts like ATVs, boats, jet skis, and motorcycles are not covered by your homeowners insurance policy, so you’ll need to get each of them their own insurance coverage before you take them out for a day of gas-fueled fun. Think, “Oh, we’ll just be storing them in the garage over winter, so it’ll be covered by homeowners if something happens?” Nope. Even in storage, any type of ATV, motorized watercraft or motorcycle needs its own separate policy in case of theft or damage.

3. Your home’s value has increased 

Even if you purchased your home just a year ago, chances are, it has increased in value. House prices are still rising, even though we’re hearing more about the market leveling out. If you were to experience a fire, hurricane, or storm that completely levels your home, you’d have the pay the difference between your coverage and the cost of a new home out of pocket if your homeowners insurance only covers the original value of your home.

4. You’ve made improvements to your house 

Since you last adjusted the coverage level for your homeowners insurance, have you made home improvements such as remodeling the kitchen, adding new flooring, replacing an HVAC unit, or adding a new porch or deck? You added value to your home, and that’s great! That also means that you need to increase your coverage level to reflect the value of your home after improvements, so all your hard work and money is protected in case the worst happens.

5. You may be missing out on new discounts

As your life changes, so do your insurance rates. There are a lot of scenarios that can lower your insurance premiums. Maybe you started working from home, and you don’t drive your car as much. Did you add an alarm system to your home? Has someone in your household completed a drivers or boating safety course? Any of these could potentially lower your insurance rates.

Want to know you’ve got the right coverage? 

Give Edwards Insurance Agency in Taylors, SC a call today. We’ll help you go over your current coverage and see if you can save money all while maintaining the excellent insurance coverage you need to protect your family.