A lot of California residents own a home and may even know the details of their homeowner’s insurance coverage very well. If you took the time to go through the process of buying a home, you likely went through a good amount of research to find the best homeowner’s insurance coverage to fit your needs. However, the question a lot of home owners in California ask is, when should I add to my homeowner’s insurance coverage? Whenever new phases of life happen and there are major changes to your home and your situation, it may be a good idea to update your policy or add to your homeowner’s insurance plan to cover the necessary expansions. Here are some common reasons you should add on to your coverage.
Common Reasons to Add to Homeowner’s Insurance Coverage:
Major Purchases – If you buy a major purchase, even a computer or jewelry, you should consider adding to or updating your homeowner’s insurance. This way you are covered for what you currently have. This can avoid future issues if your coverage is out of date and does not cover the new things you need protected in your home.
Additions to Your Home – If you added on to your house, such as expanding to add more rooms or even expanding the garage significantly, you should consider adding to your insurance coverage. If your plan covered the original home before your major additions, you may not be covered for what is new or not have enough coverage that you now need.
Starting A Business From Home – This can be a major update to your home and to your life. You will want to make sure that your insurance plan fits this new change.
Purchasing a Second Home or Rental Property – If you buy additional homes, you should talk to your homeowner’s insurance company nearby to see what is the best coverage for you. The differences between landlord insurance and homeowner’s insurance policies can get complicated if you own multiple houses, and depending on what you use them for.
If you have had changes in your house or in your life, you may want to re-evaluate your current homeowner’s insurance plan to make sure you have enough coverage and the right coverage you need. If you have further questions, our homeowner’s insurance experts can help. Call us at 877-945-7233 to learn more.