Often overlooked until after the fact, here are things your agent needs to know to ensure you are properly insured:
- Breaking ground to build a new home? Tell your agent—preferably ahead of time. You will need a “Course of Construction” (COC) either added to your homeowner’s policy or written separately. Understandably, insurance companies view a home under construction as a very different (higher) risk from a home already built and occupied.
- Turning your home/other structure into a short term rental business (such as Airbnb, VRBO, etc)? Tell your agent—again, preferably ahead of time. Some companies have absolutely no interest in this risk. Others allow you to do short term rental with guidelines in the number of days/year and if you are also living on the property. We have a market that specializes in short term rental insurance so we can provide you with a quote.
- Remodeling? Tell your agent so we can discuss the extent of the project and whether you are adequately insured. You may need a “Course of Construction” if it is an extensive remodel.
- New roof? Upgrades? Home improvements? Tell your agent so we can update the information we have and make sure you are adequately insured.
- Items of Value (such as jewelry, cameras, electronics, hearing aids, etc)? Tell your agent so we can provide a quote for scheduling items. This covers mysterious disappearance and loss with no deductible. Items not scheduled are covered under your personal property (within the policy limits), however, not for mysterious disappearance and often with a $1,000 deductible.
Keeping your agent up to date is important in order to ensure you maintain the coverage you need in case there is a loss.