Homeowners Insurance Updates: Things You Should Always Let Your Agent Know

Posted on: 10 May 2022

As a homeowner, your homeowner's insurance policy is far more important than you might give it credit for. In fact, many homeowners underestimate the importance of their insurance policy until they actually need it. Those homeowners often secure their home insurance when they get their mortgage, renewing the policy every year and not really thinking much about it afterward. The fact is that there are some things you should notify your homeowner's insurance agent about as soon as possible. Here's a look at some of the changes that your homeowner's insurance agent needs to be aware of.

Remodeling Projects

In an ideal situation, you should notify your homeowner's insurance agent before you start any kind of remodeling project. He or she will want information about what you're remodeling, when the project is happening, and who's doing the work. It's important that your insurance agent know about these projects for a couple of reasons.

First, they can note your policy and potentially recommend a construction rider that covers you for liability issues associated with any construction crew members or others being injured on the property during the project. In addition, they can schedule an assessment of your home after the remodel to ensure that your home's replacement value on your policy is accurate.

Alarm Installation

If you add an alarm system to your home, that's another thing that you should make sure your homeowner's insurance agent is aware of. Most insurance companies offer a discount for homes with an alarm system, and even more of a discount if it's tied to a central monitoring system. 

Be prepared to provide the name of the alarm service and the details of the alarm system when you call. This information will be important for ensuring that you get the proper discount and policy enhancements.

High-Value Purchases

Whether you just bought a home theater system, all new appliances, or anything else of significant value, you should make sure that you notify your insurance company right away. Depending on the value of the items you've purchased, you may be advised to add a personal articles rider to your insurance policy for the item in question. That way, you can be sure that you are covered no matter what your investment.

These are some of the most important things that you should notify your homeowner's insurance agent about, but they aren't the only ones. Talk with your agent today for more information about the types of updates they need to receive. A company like LH Griffith and Company has more information.