We're Open
Yes, we are open!

Dear valued HUB Insurance Hunter client: The ongoing COVID-19 crisis is causing extremely high traffic volume and wait times may be longer than usual. We recommend that you register for online self serve to submit your request. Be sure of one thing, we’ll take care of you!

Skip navigation

3 Times to Change Your Home Insurance Coverage

February 8th, 2016  |  Home Insurance

If you’ve got home insurance coverage, chances are you haven’t given it much of a thought since you bought the policy.

You might decide to shop around for new rates when renewal time rolls around, but you might not have thought about how changes to your home’s value or your possessions can impact your situation. If you have coverage for your possessions as well as the home, you might need to rethink your home insurance coverage.

1. Renovations

Whether you got a great deal on a fixer-upper, you’ve loved your home for years and just need something different out of it, or you want to get as much resale value out of it as possible, you need to let your insurer know if you will be doing construction on your home. Your renovations affect your coverage during the work itself, and it may even require a permanent change in your policy.

Renovations can increase the value of your home. If your home is more valuable, its replacement cost may no longer be covered under the amount you purchased before. You want to make sure that your home insurance coverage keeps pace with the value of your home.

Keep in mind that renovations that beef up your security are likely to help lower your premiums. As a result, a policy update doesn’t automatically mean more money coming out of your pocket.

2. Expensive new contents

The longer you live in your house, the more things you’re likely to collect. Jewelry, new furniture, fancy art, or a brand new HD flatscreen TV are just some of the common things you’ll probably end up purchasing and storing in your home over the years.

If you’ve got coverage for your possessions, it’s important to inform your company of any significant increase in the overall worth of the possessions in the home. When it comes to high value items, you want to get them insured right away. Many basic policies won’t cover individual items over a certain value even if you have “unlimited” coverage on your possessions.

Increase your home insurance coverage if the value of your belongings is much higher. If these items are lost, stolen, or damaged, you don’t want to be stuck with the expensive cost of replacing them.

3. Seemingly minor changes

If you start a home business, your insurer needs to know, especially if you expect customers to visit the property regularly. Most policies are specifically for domestic, not commercial use. Running a business may introduce more risks that, should you fail to inform the company of, will go uncovered if the business causes damage to the home.

Sometimes a new job or a change to your marital status could affect your home insurance coverage needs. It doesn’t matter how minor these things seem; you need to mention them to your insurance agent to make sure you still have the right coverage for your situation.

Don’t cheap out. Don’t procrastinate.

The unfortunate truth is that many people are unaware that they need to update their insurance policy. Some consumers even refrain from informing their insurers to avoid paying higher premiums.

Amending your home insurance policy isn’t a major hassle. Some providers may even allow you to simply do it online or over the phone. The important step is to get in contact with them as soon as possible and make sure your property has the coverage it needs, no matter the cost.

The best rates on insurance

Our hunters will find you 7+ quotes in 3 minutes or less.

Home Insurance