2018 New Year’s Resolutions

2018 New Year’s Resolutions:  Homeowners Insurance

When it comes to homeowners insurance, you have two components to consider:  the dwelling and your possessions.

Throughout Colorado, real estate prices have been climbing steadily.  Aside from our well-known homeowner’s risk (hail storms), increasing home values, along with rising building material costs are issues that impact our costs of insurance.  

When considering your possessions, think about the following:

  • Do I have more stuff now than when I initially purchased my homeowner’s policy?
  • If a catastrophe occurred, what would be the financial impact?

Taking a regular inventory of your items helps to figure out if you have the adequate amount of homeowner’s insurance.

Regarding your stuff, The National Association of Insurance Commissioners (NAIC) offers a free smartphone app, myHOME Scr.APP.book, which is an excellent tool to help you determine how much insurance is necessary.  (Available for both iPhone and Android)   From the Google Play Store:  The MyHOME Scr.APP.book home inventory application lets you quickly capture images, descriptions, and serial numbers of your prized possessions. The app organizes information by room or by category and even creates a backup file for email sharing.  It is great for determining how much insurance you need and for filing a claim.


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