When was the last time you reviewed your insurance policies?
Many people assume they’re fully protected—until life throws a curveball and they discover costly gaps in coverage. At Midwest Bank Agency, we want to help you avoid surprises. Here are five commonly overlooked coverage gaps that could leave you exposed:
1. Home Replacement Cost
Your homeowner’s policy might not cover the full cost to rebuild your home today. Rising construction and material costs mean your coverage could fall short.
✔ Tip: Ask your agent about a replacement cost review to ensure your limits reflect current market conditions.
2. Liability Limits
Accidents happen—and lawsuits can be expensive. If your liability coverage is too low, you could be personally responsible for thousands of dollars.
✔ Tip: Consider an umbrella policy for extra protection beyond your home and auto limits.
3. Personal Property
Standard policies often cap coverage for valuables like jewelry, electronics, or collectibles. If you’ve made big purchases recently, you may need additional endorsements.
✔ Tip: Create an updated inventory of your belongings and share it with your agent.
4. Business or Side Hustle
Running a small business or side gig from home? Your homeowner’s policy likely doesn’t cover business equipment or liability.
✔ Tip: Ask about a home-based business rider or separate business policy.
5. Flood and Sewer Backup
Many homeowners assume water damage is covered—but flood and sewer backup are usually excluded from standard policies.
✔ Tip: Consider adding flood insurance or a sewer backup endorsement if you’re at risk.
Don’t Wait Until It’s Too Late
Insurance gaps can cost you thousands. Start the new year with peace of mind by scheduling a policy review with Midwest Bank Agency today. Contact our team today.