Summer is finally here, but before you whip out the grill and pool floaties, make sure to reassess your home insurance policy. Summer brings its own risks, like severe weather and more activity around your property – so a thorough coverage check can help prepare for the season and give you the peace of mind you need.
1. Review Your Coverage
Take a look at your current home insurance policy. Make sure it has all the basics covered:
- Dwelling Coverage: This protects your home’s structure from damage caused by things like fire, windstorms, and hail.
- Personal Property Coverage: This covers your stuff—furniture, electronics, clothing, you name it.
- Liability Coverage: This takes care of legal fees and medical bills if someone gets hurt on your property.
- Additional Living Expenses (ALE) Coverage: This helps with temporary living costs if your home becomes uninhabitable due to a covered event.
2. Assess Weather-Related Risks
Summer often brings wild weather like thunderstorms, hurricanes, and tornadoes. Here’s what to look for in your policy to review your related coverage:
- Windstorm Coverage: Some policies skip wind damage, especially in areas prone to storms. If yours does, think about adding this coverage.
- Flood Insurance: Regular home insurance usually doesn’t cover floods. If you’re in a flood-prone area, you’ll need a separate flood insurance policy.
- Hail Damage: Make sure you’re covered for hail damage, particularly if you live where hailstorms are common.
3. Update Your Inventory
Summer often means new purchases, like outdoor furniture, grills, and sports equipment. Update your home inventory to ensure these items are covered. Document each item with:
- Photos and Receipts: Keep digital copies stored in a safe place.
- Serial Numbers: Record the serial numbers of valuable items.
4. Prep for Vacation
Make sure your home stays safe while you’re away on that beach vacay – the frequency of home break-ins increases during the summer season:
- Unoccupied Home Coverage: Check if your policy has any rules about covering your home when it’s empty for a while.
- Security Systems: Let your insurer know if you have a home security system—this might lower your premiums.
- Neighborly Help: Recruit a trusted neighbor to watch your place and collect your mail to keep it from looking empty.
5. Consider Liability Risks
With summer comes more outdoor fun and guests, which means the chances of accidents increases. It’s a good idea to take a look at your liability coverage:
- Pool Safety: Got a pool? Make sure it’s properly fenced and meets local safety rules. It might be worth bumping up your liability coverage too.
- Trampolines and Play Equipment: These can be big draws for kids, but also come with risks. Double-check that they’re covered and meet safety standards.
- Barbecues and Fire Pits: Enjoy your BBQs and fire pits, but always use them safely and be mindful of fire hazards.
6. Upgrade Your Policy (If Needed)
If you notice any gaps in your coverage or if things have changed since you last checked, it might be time to upgrade your policy. Talk to your insurance agent about:
- Endorsements: These are add-ons to your standard policy that give extra coverage for specific items or situations.
- Higher Limits: This means bumping up the limits on your existing coverage for better protection.
Whether it’s reinforcing your coverage against weather-related incidents, documenting new summer purchases, or enhancing liability protection for increased outdoor activity, taking these steps ensures your insurance policy is as ready for summer as you are.