Review Current Policy
1-2 hoursPull your declarations page and verify dwelling coverage, personal property limits, liability, deductibles, and exclusions.
Field context
This workflow is part of 2 niche fields
Home insurance review guide for evaluating dwelling coverage, liability limits, deductibles, replacement cost vs actual cash value, and annual policy comparisons.
Pull your declarations page and verify dwelling coverage, personal property limits, liability, deductibles, and exclusions.
Identify gaps in replacement cost coverage, personal property limits, liability protection, and special endorsements needed.
Get quotes from at least 3 insurers at renewal, comparing identical coverage levels for apples-to-apples comparison.
Balance premium savings from higher deductibles against your emergency fund capacity and local claim frequency.
Apply changes, document home inventory with photos/video, and store policy documents securely.
Review current coverage limits against rebuild and replacement costs. · Identify underinsured areas and recommended coverage increases. · Compare quotes across carriers at identical coverage levels. · Model premium savings at different deductible levels.
Assess current premium as percentage of housing budget. · Update housing budget with new premium amount.
Cross-reference property value with insurance dwelling limits.
Ensure emergency fund covers chosen deductible amount.
Standard homeowners policy forms and what they cover.
| Form | Name | Coverage Scope | Typical Use |
|---|---|---|---|
| HO-3 | Special Form | Open perils dwelling, named perils contents | Most common single-family |
| HO-4 | Contents Broad | Renters — contents only | Apartment renters |
| HO-5 | Comprehensive | Open perils dwelling and contents | High-value homes |
| HO-6 | Condo | Unit interior + personal property | Condo owners |
Market value includes land — your dwelling coverage should match contractor rebuild estimates, which may differ from Zillow price.
Standard homeowners policies exclude flood damage. FEMA maps show risk — 20% of flood claims occur outside high-risk zones.
Combining home and auto with one carrier typically saves 15-25% on combined premiums vs separate policies.
Kitchen remodels and additions increase rebuild cost — update dwelling coverage within 30 days of completion to avoid coinsurance penalties.