Protecting Your Home Protects You

It’s true for your clients, and it’s true for you: Your home likely represents your single greatest investment. And so you want to protect it – and yourself as the homeowner – in every way imaginable.

One such way is from severe weather damage. A second, more abstract way is through a careful periodic review of your insurance needs. And not surprisingly if you think about it, the two can be related. For example, some storm preparations may help lower your homeowners insurance.

Here are a few steps to take before a storm approaches to help reduce damage, avoid an insurance claim and, in some cases, possibly save you money along the way: p Look at what’s over your head. Regularly examine your roof and replace loose shingles, tiles and slate. If your roof is more than 20 years old, you may want to have it inspected. Replacing your roof may lower your premiums. p Beware of flying objects. Move any loose items from your yard that can become flying debris. Grills, patio furniture, bicycles, planters, garbage cans, etc. should be relocated to your garage or inside your home. If it can’t be moved, strap it down. p You can’t be too secure. Check that doors and sliding glass doors are secure. Not only will you help ensure that doors stay closed tight in a heavy wind, but simply having a solid exterior door and secondary locks on sliding doors make good sense. p Act like a Boy Scout. Know how and be prepared to turn off the power and water in the event of a storm to avoid voltage irregularities, which can damage your computer, TV and other electrical appliances. p Don’t forget the “haircuts.” Keep trees and shrubs around your home well trimmed. Remove damaged or dead limbs, especially those over your home. While you’re at it, make sure gutters are properly secured and free of debris that can prevent proper drainage. p Nothing wrong with a lock box. Keep important papers, including insurance documents, deeds and titles, in a safe or waterproof container that you can grab quickly in case you need to evacuate.

Now that you’ve taken care of your home’s exterior –and in relevant places the interior – it’s a good time to assess your homeowners insurance needs.

Keep in mind that your insurance needs likely will change if the value of your home or possessions changes. Such a change can be influenced by any number of factors, and here are a few in particular that are worth keeping your eye on: p You’ve made improvements to your home. Adding a new kitchen or roof adds to the value of your home. It also increases the cost to rebuild your home if it’s ever damaged. You’ll want enough coverage to pay to rebuild to the same specifications and quality you have now. p You’ve gotten married or taken in an aging parent. Merging households? Consider who has the best insurance, suggests the Insurance Information Institute. Be sure to think about what bringing together your belongings means to your insurance needs, too. All those wedding gifts and precious heirlooms should be covered. p You’ve had other life changes. Getting divorced, moving in with someone, having children or changing employment are all good times to reevaluate your coverage. You may need to adjust your policy or deductible, or find you don’t need as much coverage as you did before. p You’ve received major gifts. The big-screen TV or jewelry you got for your birthday or the amazing antiques you inherited from a dearly departed relative may require additional insurance. p You’ve made home security or disaster-proofing improvements. Adding storm shutters, reinforcing your roof or adding burglar alarms can all make your home more secure – and may result in a reduction in your premiums. p You’ve realized some of your items aren’t worth what they used to be. Everything from electronics to fur coats can lose value over time. If you haven’t made any major purchases lately, accounting for the depreciation of these items may help you save on your policy.

If you have questions about what steps you should take with regard to any of the above suggestions, the NC Association of REALTORS® suggests you contact your insurance carrier.

And if you’re looking for a carrier or perhaps are seeking a change, consider Nationwide, a proud member of NCAR’s Partner Program. As a NC REALTOR®, you’re entitled to special discounts with Nationwide. v

To learn more, contact Chris Copley at Nationwide (copleyc@nationwide.com) or Sara Beth Coggin at NCAR (sbcoggin@ncrealtors.org).