When should I update my condo insurance

Condo insurance usually renews yearly. Your insurance company sends out a new policy with your renewal and a declaration page. When you get the declaration page look it over and see what it is telling you. It lists the replacement value of your condo, the contents value, and the liability limits. All of these are important figures. They need to make sense of what you know about the value of your home and its contents. Insurance Shopper VA in Virginia Beach, VA is a full-service independent agency that has been in business for more than 20 years. 

When you have a life change

Things change over the years, you may get married, have children, get divorced, or buy a dog. All of these require that you make adjustments to your condo insurance. Adding or removing a spouse from your policy and raising the liability coverage are easy changes. 

Major improvements

When you purchased your condo everything may have been builder grade. Not that there is anything wrong with that but if you have made major upgrades like adding a new kitchen or updated bathrooms or flooring, the value of your condo may have changed significantly. Make sure that your insurance agent knows the upgrades you have made and be prepared to give comparative values of similarly updated units in your complex. 

You purchased expensive items

If you have a beautiful engagement ring or an amazing piece of art,  you should review your content coverage. Checking whether you have replacement cost or actual value is worthwhile as well. 

You added a home security system

Let your insurer know if you have added a home security system. You may be eligible for a discount. 

If you are in the market for condo insurance, Insurance Shopper VA  in Virginia Beach, VA has friendly and knowledgeable agents to help you. Give us a call or stop by the office.