You need to be aware of what any Metro Atlanta homeowners insurance policy is protecting before you sign for any particular policy or coverage.

Metro Atlanta homeowners insurance can be a complicated topic, so it is always important that you research policies thoroughly before buying coverage on the most expensive purchase of your life.

Atlanta homeowners insurance can be expensive, but not if you go about shopping for your insurance the right way. Kim Lankford, contributing editor with Kiplinger’s Personal Finance Magazine has 5 important tips on shopping for and keeping your homeowners insurance.

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Atlanta homeowners insurance is not something you can just set and forget. Life changes could demand changes and tweaks to your insurance from time to time. You should discuss possible needs for updating or changing your policy, but here are a few tips to consider:

Updating Your Atlanta Homeowners Insurance Coverage

Personal property coverage, or contents coverage, for a homeowners policy is a default percentage of the dwelling limit (known as Coverage A) on your declarations page. This compares to the appraised value or market value of your home. In this volatile real estate market, you may need to adjust this coverage before you have a claim. Otherwise, instead of saving money, you may find yourself with a claim that your policy does not cover.

The worst time to learn your Atlanta homeowners insurance isn’t sufficient is at the time of claim. It’s not your agent’s responsibility to make sure you read your policy. It’s your responsibility.

To avoid these problems, discuss with your agent the dwelling value and its replacement cost. If you have renovated your kitchen or bathrooms, make sure you talk to your agent about the value you invested in these upgrades, and hold on to all receipts associated with the renovation.

Appraising Your Belongings

If you own a condo, co-op, or townhouse, your policy is usually dependent on the estimated value of your possessions. But even if you do not fall into those categories, it is a good idea to keep an updated and accurate list of your belongings for insurance purposes.

Certain valuables such as jewelry, furs, electronics, and silverware should be scheduled on your policy, depending on their value. This way they will be covered while you are away from home or if they are lost, stolen, or misplaced. In order to be reimbursed, you will have to prove their value by way of a receipt or an appraisal. Check with your agent for the insurance company’s requirements at the time of a loss.

Computers, Electronics and Other Gadgets

We all want the latest and greatest in electronics and gadgets, but these desires can be costly. You’ll need to be sure you’ve added these things to your Atlanta homeowners insurance policy if you want to be assured they are covered. Some carriers no longer cover the loss of smartphones or tablets.

Most homeowners insurance policies cover new possessions you may acquire; however, it is recommended that you keep all receipts, photos, and/or video of large and expensive items in a safe place, preferably online via cloud computing. Insurance companies don’t write blank checks, and they will require you to substantiate any large purchases you claim.

When reviewing your insurance portfolio, consider what could result in a true financial hardship for you and your family. Then discuss with your agent how insurance can accommodate and alleviate that hardship. Be realistic and reasonable. Always keep in mind that if you are trying to avoid any out-of-pocket costs by submitting a claim, next year you’ll probably be looking at higher premiums on your Atlanta homeowners insurance.