When was the last time you reviewed your homeowners insurance policy? Have you ever reviewed it since you originally purchased it? Your existing coverage may be fine; but if you have done any of the following since last updating your policy, it’s time to review your coverage, according to the experts at the Equifax Finance blog in the recent article, “

When Do You Need to Review Your Homeowners Insurance Policy?”

• You’ve done any home improvements: adding square footage means you will need to increase the replacement cost coverage on your home. You will likely have to add coverage after renovations are complete, but contact your insurance agent before making any major changes to the structure for his or her guidance on how to best proceed with renovations. Your insurance will not cover injuries to workers at your home, so be sure to hire contractors who carry their own liability and workers’ compensation coverage.
• You get a dog: Fido will be a great addition to your family but bringing him home means you’ll need all risk coverage to take care of losses from causes not specifically excluded in your policy, as well as replacement cost coverage for your personal property, should he cause any damage to your home, or to your neighbor’s home. A dog may also impact your coverage for accidental injury, as the chances of accidental injury increase with a new dog. It’s a good idea to check with your agent before getting a new dog, as some companies have exclusions for certain breeds for liability suits.

There are several other scenarios in which you should review your coverage, read the full Equifax Finance blog article for all of them,  and while you’re there, check out all of their articles and videos on a range of personal finance topics, from credit to

identity theft protection to taxes, retirement and more.