In addition to being prepared with food and water stockpiles and a first aid kit, the Property Casualty Insurers Association of America (PCI) advises homeowners, business owners and renters to avoid these common mistakes, especially during tornado season.

Mistake #1: Fail to conduct yearly insurance review

Conducting an annual review of your insurance policy helps ensure that your home and belongings are fully protected, PCI says. It provides you with the opportunity to address potential gaps in coverage, and enables you to speak with your insurance agent, ask questions and better understand your coverage. Over the course of a year, you may have made upgrades, completed renovations or purchased new items that could impact the amount of homeowners insurance coverage you need

Mistake #2: Don’t take time to understand insurance coverage

PCI acknowledges that about the last thing most people want to do is read their insurance policy. Unfortunately, after every major event some residents are caught financially unprepared and there is the all-too-common refrain “I thought I was covered!” Although insurance covers many situations, PCI recommends that a policyholder speak with his or her insurance agent regarding the way your coverage works. You may have valuables that require a special endorsement to the policy or you may want to add sewer back-up coverage for an added measure of protection. By doing a home inventory and conducting an annual insurance review you can ask questions about your policy and ensure you have adequate coverage for your circumstances, PCI says.

Mistake #3: Fail to make a home inventory

Developing a home inventory may seem like a tedious task, but after a natural disaster you’ll be glad you took the time to create it. The inventory lists all of your home’s contents so you can quickly and easily account for all your belongings and report the loss to your insurance company. Without it you may have to rely on your memory to determine what you lost.

PCI advises to begin the process with a home inventory of every room and closet. And don't forget the basement, attic, garage or other storage buildings. Check with your insurance agent before you start; he or she may have tools available to assist you. You also can use other resources such as the Insurance Information Institute’s Know Your Stuff Home Inventory.

Inventories can be completed in a variety of ways using online tools, apps or specially designed software. You also can take the DIY approach with a spreadsheet or the old-fashioned pen-and paper-method. Many people simply walk through their home and create a visual record of everything they own, PCI notes.

At Prime Insurance Agency, we can work with you to make sure you've got the coverage you need, while at the same time using all possible credits and discounts to make that coverage affordable.

Call us at 732-886-5751 or send us a note at PRIME [at] primeins [dot] com. We want to help you meet your goals, and make sure what's important to you is protected!