Homeowners Insurance Review: When Did You Last Check Yours?
A homeowners insurance review may not be high on your to-do list, but a few minutes now could help prevent an expensive surprise later.
A recent Harris Poll found that 41% of homeowners with insurance hadn’t changed their policy in more than a year, while 20% said they hadn’t updated it since purchasing the policy.
And most insurance companies aren’t necessarily checking in:
- 56% of policyholders said their provider hadn’t reviewed their coverage with them in more than a year.
- 21% said their provider had never checked in.
- 88% said they would want to know if their coverage no longer fit their needs.
Your house, belongings, and lifestyle can change. Your insurance policy may not automatically change with them.
You May Not Have the Coverage You Think You Do
The Hanover Insurance Group’s 2025 Homeowners Coverage Awareness Report found a significant gap between homeowners knowing about certain types of coverage and actually carrying them.
For example:
- Umbrella coverage: 83% had heard of it, but only 39% had discussed it with an agent.
- Valuables coverage: 87% knew about it, but only 26% carried it.
- Cyber coverage: 46% knew it was available, but only 7% had it.
The takeaway isn’t that everyone needs every type of coverage. It’s that you should understand what your policy does and doesn’t protect.
Coverage Gaps Can Get Expensive
One in three homeowners who had filed a claim said their insurance coverage fell short of what they needed. Among them, 14% said none of the claim was covered.
That’s not something you want to discover after a burst pipe, major storm, or another unexpected loss.
Your Five-Minute Insurance Check
Pull up your current policy and review these four things:
- Dwelling coverage: Does the limit reflect what it could cost to rebuild your home today?
- Additional coverage: Check endorsements for things like jewelry, art, water backup, or other valuables.
- Last review date: When was the policy last updated?
- Changes since then: Think renovations, a new roof, a home office, major purchases, or other improvements.
If you aren’t sure what something means, that’s a good reason to call your insurance agent and ask.
A Few Minutes Now Can Save a Bigger Headache Later
Your insurance policy may be perfectly fine. The point is to know that before you actually need it.
Homes change. Replacement costs change. Your belongings change. Taking a few minutes once a year to review your coverage can help make sure your policy still reflects your life today.
Add a homeowners insurance review to your annual home-maintenance checklist. Future you may be very glad you did.