Once a consumer purchases a homeowners insurance policy, they might not look at it for awhile. That’s a mistake. You want to make sure that you are covered in the event of a major loss. Over 60 percent of all U.S. homes are underinsured by at least 20 percent, according to CoreLogic, a California company that provides data to most major home insurers.

There’s many issues that can cause a home to be underinsured, from remodeling or later additions. There’s also things that aren’t covered in your policy that you have to purchase extra insurance for. Don’t be one that doesn’t think about their policy. Make sure it’s always up to date and ready to go. Here are some signs that you need to update your homeowners insurance.

1. Your Home is Remodeled. If you’ve updated an ancient bathroom or kitchen, then your home now costs a little more. And that means you might need additional coverage in the event of a disaster.
2. You’ve Purchased High Price Items. High price items are something that you need to let your agent know about. They jump up the value of your home.
3. You’ve Stopped Smoking. Smokers are a liability. So when you’ve stopped smoking, you’ll ultimately save some money on your insurance premiums.
4. You’ve Retired. Being retired means you’re going to save some money, so make sure you tell your agent as soon as you’re eligible. Since retired people spend more time at home, there’s often more discounts available for them. The Insurance Information Institute found that those over the age of 55 can save as much as 10 percent on their California homeowners insurance.
5. You’ve Added An Alarm System. Adding an alarm system is nothing but beneficial to the cost of your home. Alarm systems mean that there’s less of a chance of someone breaking into your home, therefore making it safer. The safer your home is, the less your insurance is going to cost in the long run. You’ll essentially save up to 5 percent on your bills annually while having an alarm system in place.
6. You Have a Dog. There’s one thing you have to think about with a pet. What if your dog bites someone on your property? You need to make sure that you are covered. Check your California homeowners insurance policy to ensure that you’re covered for this situation. And always make sure that your agent knows of any pets in your home, because your insurance rates could rise.
7. You Have a Swimming Pool. Swimming pools are fun but they are also a liability. If someone gets hurt in your pool, then you are responsible, whether you are there or not. Swimming pools will often raise homeowners insurance premiums. If you get a pool at your house, it’s important that you make sure your insurance agent is aware.

About ISU / The Olson Duncan Agency

At ISU -The Olson Duncan Agency, our goal is to provide clients with a total solution, not just a quote or a contract. We provide businesses and individuals with insurance and risk management solutions, and we aim to provide real value and build trustworthy, long-term relationships with our clients. To learn more about our services, give us a call today at (310) 373-6441 to speak with one of our professionals.