Mid-year is an ideal time to review policy deductibles, bundling discounts, and property valuations, especially if home renovations or market shifts changed your coverage needs.
1. Confirm dwelling coverage keeps pace with inflation
Material and labor costs continue trending upward. Ask your advisor to verify the replacement cost estimator and consider extended replacement coverage if available.
- Review contractor quotes or appraisal data.
- Document upgrades that improve energy efficiency or security.
- Identify coverage gaps on outbuildings or new additions.
2. Revisit deductibles and emergency funds
Higher deductibles lower monthly premiums but require accessible savings. Balance cash reserves with risk tolerance, especially heading into storm season.
Aim to have your deductible amount in liquid savings so repairs do not derail your budget.
Need guidance?
Schedule a Coverage Review with McDowell IFS
We will evaluate deductibles, valuations, and bundling options in one focused call.
3. Bundle and align renewal dates
Consolidating auto, home, umbrella, and specialty policies under one carrier often unlocks meaningful discounts. Matching renewal dates simplifies future reviews and claims coordination.
4. Update liability limits
Consider an umbrella policy if net worth or business exposure increased. Umbrella coverage is typically sold in $1 million increments and can cover multiple properties or vehicles.
5. Document valuables and seasonal items
High-value jewelry, art, or collectibles often require scheduled personal property riders. Keep a digital inventory with photos and receipts to simplify future claims.
Thanks for the reminder about umbrella limits—we just increased ours after adding a rental property.
Great move—reach out if you need us to sync the policy renewal dates.
Do you have a downloadable checklist for documenting valuables?