Many people think about their homeowners insurance policy as little as possible. However, if you take the time to evaluate your policy though (poolside, of course), you’ll be able to enjoy your downtime at home, worry free. Here are some common reasons why you may need to update your homeowners insurance.
1. BBQs
Hamburgers and hot dogs are staples of any American grill, and we all know a grill master. If this sounds like you, make sure you’re properly protected and follow safety precautions. Always keep your grill away from your house or any existing structures. Grill fires can cause significant damage, and even lead to full-blown house fires. If you aren’t covered, your BBQ might leave a very bad taste in your mouth.
2. Increase in Personal Property
Are you going to have the best Christmas ever? We all have memorable holidays, and if you got any new gadgets or fancy jewelry, make sure their value is included in your personal property inventory. Recreational vehicles are a popular gift, but before you put them to use this summer, update your home insurance to reflect the renewed value.
3. Started a Home Business
If this was the year you finally took the plunge and started working for yourself, congratulations! Now, while you’re juggling working from home and your family, you also need to double check your home insurance policy. Many insurers don’t insure home-based businesses, so you might need to find a separate commercial insurance policy or you won’t feel “like a boss” for very long once you experience a loss of the fancy business investments you’ve made, not to mention your home.
4. Renovations
As the weather cools down, many people forget about housing upgrades and repairs until the spring. When the time comes, if you’re using contractors make sure your liability coverage can cover any injuries. Additionally, when you’re finished with your renovation, your housing replacement cost should go up. Make sure your home insurance policy is upgraded too.
5. Pools
The sparkling water of a pool is a huge draw for anyone that’s overheated, but be cautious when using one. In summer months, they are one of the biggest threats and insurers aptly refer to them as “attractive nuisances.” Pool parties are always fun until someone gets hurt and if you’re sued, the injury just keeps coming. Telling your insurance company you have a pool will raise your premiums, but it will pale in comparison to the lawsuit brought against you by parents whose child was severely — or sometimes fatally — injured in your pool.
People tend to make a great deal of changes at the start of a new year, so spring is the time to evaluate those changes thoroughly. And you never know — the refreshing, perfect spring weather may make examining your insurance policies more tolerable than ever.
