Have you reviewed your homeowner's insurance policy recently? Most homeowners do not and continue to renew each year. At the very least you should be reviewing your policy every year at renewal time. Not reviewing can cost you if any type of improvements have been made and not covered. Remember also your recent expensive purchases of electronics, antiques, art and jewelry.

A quanranteed cost replacement clause should be in your policy. If your home is damaged beyond repair, this would cover the cost of rebuilding the home. Some policies only cover the original value of the home.

Home reconstruction does increase and if you are without the replacement cost coverage you might not have the coverage to replace the home to its current state. Always check to be sure you have current cost of appraisal in your coverage.

A side benefit of reviewing your coverage and speaking with your insurance company is possibly receiving discounts for adding something like an alarm system.

So, review each year before you have a loss or claim and find out you are not sufficiently covered.