The holidays usher in a season of busyness and gift giving – and after they are over, it can be an adjustment as everything gets back to normal. There are five very good reasons that during the holidays is a perfect time to schedule an insurance policy review with your agent.
If you received some expensive jewelry or electronics as gifts, adding those to your home inventory should be a priority. Check with your agent to find out if your new possessions exceed your existing coverage. You may want to add Scheduled Personal Property Coverage to your policy to make certain your possessions are correctly insured.
Did you do any remodeling in 2017? Upgrades like new paint or kitchen cabinets can raise your home’s value – but upgrades to your roof or electrical wiring could actually lower your homeowners insurance premiums.
Changes to Flood Maps
2017 saw many changes to Florida flood maps. Ask your agent if your risk has increased, and consider adding flood insurance if you don’t already have it. Wherever it rains, there is risk of flood, and coverage in the state of Florida is a good idea even if you are in a “low risk” zone.
Credit Card Fraud
The holiday season is when most e-commerce sales are made, which means credit card fraud also peaks. If you’ve been a victim, recovering your lost funds may have been difficult. Ask your agent if your homeowners insurance carrier offers a policy that provides coverage in case of identity theft or credit card fraud.
Working From Home
Many companies now allow employees to work remotely, and the beginning of the year is often when this option is offered to existing employees. If you have equipment (such as computers, printers, or other items used for business) on your premises, you can procure coverage for these expensive electronic items with Spartan Enhanced Coverage. This may also apply if 2018 is the year you plan to start your own business.
Any or all of these circumstances can be a very good reason to review your homeowners insurance policy. You could need more coverage, or simply find you qualify for a premium credit. It’s a great way to start the new year.
About Olympus Insurance Company
Headquartered in Palm Beach Gardens, FL and founded in 2007, Olympus Insurance Company specializes in Florida property insurance. Through its independent agency force, Olympus insures $45 billion worth of residential and investment property including homes, condos, rental property, and valuable personal property, with umbrella coverage and Spartan Enhanced Coverage available. Coverage for individual risks up to $5 million in total insured value is provided on one of the most comprehensive coverage forms in the industry.
For more information, visit olympusinsurance.com.
This article is for informational purposes only and does not form a part of, replace, change or amend any terms, conditions, provisions or language within your Olympus Insurance policy. We encourage you to read your entire policy.