Why You Should Review Your Home Insurance Coverage Every Year — and Every Quarter
Homeownership comes with ongoing responsibilities, and one of the most important — yet often overlooked — is keeping your insurance coverage up to date. Every year, repair costs change. Labor rates fluctuate, building materials rise or fall in price, and new construction standards can impact what it would actually cost to repair or rebuild your home after a loss. If your insurance policy hasn’t kept pace, you may be underinsured when you need protection the most.
Many homeowners assume that once a policy is set, it will automatically adjust. While insurers may make minor updates, they don’t always reflect real-time changes in your local market. In areas like Westlake Village, Thousand Oaks, and surrounding communities, construction costs, wildfire regulations, and property values can shift quickly — making regular policy reviews essential.
Why Annual Reviews Matter
At the start of each year, take time to review your policy limits, deductibles, and coverage types. Ask yourself:
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Would my current policy fully rebuild my home at today’s costs?
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Have I completed upgrades or renovations that increase value?
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Do I have adequate liability and loss-of-use coverage?
Even small improvements — like new flooring, a remodeled kitchen, or upgraded landscaping — can impact your replacement cost.
Why Quarterly Check-Ins Are Smart
Quarterly reviews don’t have to be complicated. A quick check-in with your insurance professional ensures your coverage keeps up with:
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Rising material and labor costs
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Changes in local building codes
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Weather or wildfire risk updates
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Market value shifts in your neighborhood
Think of it as a financial wellness check for your home.
Protect Your Investment
Your home is often your largest asset, and insurance should evolve alongside it. Staying proactive protects you from unexpected gaps and gives you peace of mind knowing you’re fully covered — not just for today, but for whatever the year brings.
If you’re unsure where to start, work with trusted local professionals who understand your property, your goals, and your community. A simple policy review today could prevent major stress tomorrow.
Tina Lucarelli - Realtor - The ONE Luxury Properties, Inc. (310) 738-8089
