Things You Need To Tell Your Homeowners' Insurance Carrier
Your homeowners' insurance is dependent upon the structure and value of your home among many other factors. What some homeowners don't realize is that the policy is one that should be maintained and reviewed regularly. In fact, there are some key changes that you should always make your homeowners' insurance agent aware of. Here's a look at some of the things that you need to notify your insurance company about.
Did You Install A Security System?
If you install a security system in your home, especially if you have surveillance cameras and a central monitoring alarm, you should notify your insurance carrier right away. In most cases, insurance carriers offer home security discounts for policyholders with a security system, especially when that system is connected to a service that automatically dispatches emergency services. If it includes digital locks and other access control features, make sure your insurance carrier is aware of that as well.
Have You Added Impact-Resistant Fixtures?
Replacing exterior doors or home windows with impact-resistant varieties is important for your home insurance as well. You may find that you receive a premium reduction on your home policy for an upgrade like this, but it is also important to note that it alters your home's replacement cost, too.
Is Your Property Newly Gated?
When you complete the fence installation to add a gate for access control to your property, your insurance carrier needs to know. Fences and gates may be covered under your policy in some cases and anything that regulates access to the property changes your risks as a claimant.
Have You Built An Addition?
Any changes to your home's structure, whether it's an addition or even just a remodel, can affect the appraisal and replacement value of the house. Your insurance policy is based on that replacement value, so you need to notify your insurance company any time you make material changes. Remodeling, building additions, finishing a basement, or installing a fireplace all apply in this instance.
Do You Have Animals?
Although some house pets are irrelevant to your homeowners' insurance, some do affect the policy. If you adopt a dog, your insurance carrier needs to know. The risk of dog bites is a valid concern and you need to be sure that you have liability coverage for it just in case. In addition, if you have goats, sheep, or chickens, you need to understand your coverage options under your policy.
These are just a few of the things you need to understand when it comes to homeowners' insurance.