RUN A HOME INSURANCE CHECKUP

If you don't have sufficient coverage, your out-of-pocket costs in a claim could be through the roof.

- BASICS BY ELLA VINCENT

AS summer approaches, so do the storms. Tornado activity often peaks in the spring and early summer, and the Atlantic hurricane season starts in June. In 2024, there were 27 weather- or climate-related disasters that each had losses of $1 billion or more, according to the most recent data from the National Oceanic and Atmospheric Administration.

In case severe weather or another catastrophe hits, now is a good time to make sure your home insurance coverage is up to snuff. It’s also a good idea to make a regular practice of reviewing your policy before it renews each year, says Susan Meyer, insurance analyst at The Zebra, a site for comparing insurance quotes.

ABCs of coverage. First, assess some key coverages. Your dwelling coverage, otherwise known as Coverage A, pays to rebuild your home’s physical structure, including framing, roofs, floors and chimneys, if it’s damaged by fire, a storm, snow or other covered perils.

You may need to adjust your policy’s dwelling coverage if you've renovated your home by, say, adding a bathroom or remodeling your kitchen. Rising prices for construction materials in recent years may push up the cost of rebuilding, too. Talk with your insurance agent or a local contractor to get an idea of the cost per square foot to rebuild your home. Some insurance companies offer online calculators you can use to help determine how much coverage you need.

While Coverage A applies to your house, Coverage B protects other structures that are not physically attached to it, such as a fence, detached garage, shed or guest house. The Coverage B limit is typically set at 10% of the Coverage A limit. If your dwelling-coverage limit is $400,000, for example, then your limit for other structures would be $40,000. Depending on the types of other structures you have on your property, you may need to increase the Coverage B limit.