How Often Should Home Insurance Be Updated?

When buying a home, a lot of people learn a lot about home insurance very quickly. No lender is going to sign a loan without it, so you probably have some sort of coverage. What most Virginia Beach, VA, homeowners don’t realize is that their policy needs to grow and change with their home. These are just a few changes that should signal to you that it’s time to check your policy.

Changes to the Home

You might already suspect that a major remodel can change the value of your home and justify a call to your Insurance Shopper VA agent. What you might not realize is that substantially smaller changes can still merit an update to your policy. Big-ticket purchases, like a high-end entertainment system or a professional-grade pool table, can absolutely change your coverage needs. Most importantly, adding a swimming pool (even the above-ground kind), requires a different approach to liability.

Lifestyle Changes

As important as it is to make sure you valuables are properly covered, lifestyle changes can often impact your premiums even more. Most people assume that quitting smoking could improve their health insurance or life insurance, but it can also positively impact your home insurance. Another big lifestyle change that might save you money is retirement. Obviously, details will always vary, but plenty of insurers offer special programs to retirees (they tend to be home more and that reduces liability risk for the property). Even something as simple as getting a dog will change your needs. Dog bites are a whole new liability issue, and you want your furry friend to be protected too.

Here’s the thing. It doesn’t cost money to call Insurance Shopper VA and speak to an agent. The worst that can happen is you spend a few minutes learning that you’re in great shape, and you can keep right on with your Virginia Beach, VA, lifestyle. So, if you make some big changes, remember your agent and make sure your coverage is still in the right place.