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How Often Should I Review My Homeowners Insurance?

Homeowners insurance isn't something most people think about very often. Once the policy is in place, it's easy to pay the premium each year and assume everything is still appropriate.

But your home—and your life—can change over time.

Renovations, additions, a new roof, major purchases, changes in how you use the property, and other updates can all be good reasons to have a conversation with your licensed insurance professional.

Make an Annual Review Part of Homeownership

A good habit is to review your homeowners insurance at least once a year, often around renewal time.

The National Association of Insurance Commissioners recommends conducting an annual insurance review and considering whether changes to your home or belongings need to be discussed with your insurance provider.

You don't have to analyze the policy yourself. Instead, use the annual review as an opportunity to make sure your insurance professional has current information about your property and to ask questions about anything you don't understand.

Don't Wait for Renewal if Something Significant Changes

Some changes are worth discussing with your insurance professional when they happen rather than waiting until your next annual review.

For example, consider contacting them after:

• Adding onto or substantially renovating the home

• Replacing the roof

• Installing a pool

• Adding a detached structure

• Making significant upgrades to the home

• Purchasing higher-value belongings

• Making a major change in how the property is used

• Adding features or equipment that may be relevant to the policy

Your insurance professional can tell you whether a particular change affects your policy or requires any action.

Keep Your Insurance Professional Updated About the Home

Over the years, homeowners may replace roofs, HVAC systems, electrical components, plumbing, windows, or other major features.

Keep records of significant work and let your insurance professional know about changes they say are relevant to your policy.

This is another reason our What Home Records and Documents Should I Keep?  guide is useful—having dates, invoices, permits when applicable, and other documentation organized makes those conversations much easier.

Review More Than Just the Premium

When renewal paperwork arrives, it's tempting to look only at whether the price went up or down.

Price matters, but it isn't the only thing worth discussing.

This is a good opportunity to ask your insurance professional whether there have been changes to your policy and to have them explain your coverage, deductibles, limits, exclusions, endorsements, and other terms.

The goal isn't for you to become an insurance expert. It's to make sure you understand the policy you're purchasing and know whom to call when you have questions.

Gulf Coast Homeowners Have Additional Reasons to Pay Attention

Living along the Alabama Gulf Coast means homeowners may encounter insurance considerations that aren't as common in every part of the country.

Wind and hurricane exposure, separate deductibles, flood risk, fortified construction or roofing features, and other property characteristics may be relevant depending on the home and policy.

Flood insurance is also separate from a standard homeowners policy. FEMA notes that most homeowners insurance does not cover flood damage.

Rather than assuming what is or isn't covered, talk with your licensed insurance professional about your particular home and policies.

Review Your Policy After Major Home Improvements

A renovation or improvement can be a good reason to contact your insurance professional.

Projects such as an addition, major kitchen renovation, new roof, pool, detached building, or substantial upgrade may change information about the property that your insurer needs to know.

Keep invoices, permits when applicable, photographs, and other records from significant projects, and ask your insurance professional whether the change needs to be reflected in your policy.

Keep an Updated Home Inventory

An insurance review is also a good reminder to update your home inventory.

Photographs, videos, receipts, serial numbers, and other documentation can help you maintain a record of your belongings. Pay particular attention after making significant purchases or adding higher-value items.

We cover how to create one in our How Should I Document My Home and Belongings for Insurance?  guide.

Ask About Changes You Don't Understand

Insurance documents can contain terminology that isn't familiar to most homeowners.

If something changes at renewal—or you simply don't understand part of your policy—ask your licensed insurance professional to explain it.

Questions might include whether your deductibles have changed, whether there are new or different exclusions or endorsements, and whether information about the property is current.

The important thing isn't knowing the insurance terminology yourself. It's asking questions before you need to make a claim.

Keep Your Current Insurance Information With Your Home Records

Keep your current policy information and your insurance professional's contact information somewhere easy to locate.

When a new policy period begins, update your records so you aren't relying on an outdated version.

Consider keeping secure digital copies as well, particularly because important documents stored only inside the home may be difficult to access after a major storm or other loss.

Homeowners Insurance Review Checklist

☐ Review your homeowners insurance at least annually
☐ Read renewal information rather than looking only at the premium
☐ Tell your insurance professional about significant home changes
☐ Discuss major renovations or additions
☐ Update them after a roof replacement or other major improvements when appropriate
☐ Ask about pools, detached structures, generators, or other added features
☐ Review your home inventory periodically
☐ Mention significant or higher-value purchases
☐ Ask questions about terms or changes you don't understand
☐ Keep current insurance documents with your home records
☐ Keep your insurance professional's contact information accessible
☐ Ask about flood, wind, or other Gulf Coast considerations applicable to your property

Frequently Asked Questions

How often should I review my homeowners insurance?
An annual review is a good habit, particularly around renewal time. You may also want to contact your insurance professional when significant changes occur between renewals.

Should I contact my insurance company after replacing my roof?
It's worth letting your licensed insurance professional know about a significant improvement such as a roof replacement. They can tell you whether they need documentation or whether the change affects your policy.

Do I need to tell my insurer about a renovation?
For a significant renovation or addition, contact your insurance professional and ask. The answer can depend on the project and your particular policy.

Does homeowners insurance cover flooding from a hurricane?
Don't assume it does. FEMA states that standard homeowners insurance generally does not cover flood damage. Ask your insurance professional about flood insurance and the coverage applicable to your particular property.

Should I shop for homeowners insurance every year?
That's a personal financial decision. Whether you stay with your current insurer or compare options, renewal time is a useful opportunity to review your policy and ask questions about coverage, deductibles, changes, and cost.

Can my real estate agent tell me how much insurance coverage I need?
Your real estate agent can help you think about homeownership considerations and may provide contact information for insurance professionals, but coverage recommendations and policy-specific advice should come from a licensed insurance professional.

Related Homeowner Guides

How Should I Document My Home and Belongings for Insurance? 

What Home Records and Documents Should I Keep? 

How Much Should I Budget for Home Maintenance and Repairs? 

Have Questions?

Homeownership comes with questions long after closing day, and you don't have to figure everything out on your own.

Whether you have a question about maintaining your home, planning an improvement, or protecting your investment, we're always happy to be a resource.

Dana & John Martin – Team Martin
Waters Edge Realty
318-504-9925 | 504-450-2714
ALGulfCoastAgents@gmail.com