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As summer nears, it’s a good time for homeowners to update their insurance policies and ensure that any new additions to the home are properly covered. New toys or improvements to the property can mean you need to add to the policy to keep your coverage current or simply notify your insurer, so they can be aware of the updated circumstances. Here are some of the main items you want to consider when updating your homeowner’s insurance.
The addition of a pool can offer your family hours of enjoyment, but it can also add risk to your property in many ways. A pool and the attached plumbing can increase your chances of a flood or a costly repair if something goes wrong. There is also an increased risk of injury to visitors once you have a pool installed. Since many homeowners’ insurance policies don’t cover flooding, you may need to add flood insurance to your current coverage to protect the property in case the pool does overflow or an issue with the pump and water supply starts a flood that trickles into the home. Flood insurance may cover any physical harm done to the actual structure and foundation of the building, the contents of the home, or both kinds of damage.
A childhood favorite, the trampoline can be hours of fun for your children or grandchildren and their friends. However, there is an inherent risk involved with allowing kids to jump on a trampoline, and there can be broken bones and other injuries as a result of using the equipment. If your policy doesn’t already include personal liability insurance, your insurer may recommend adding this coverage to protect you in case someone is injured on the trampoline. The exact amount of the policy will vary as your personal liability coverage is directly tied to the assets you have. Your personal liability insurance policy should be enough to cover your combined assets should you be sued. You can also add medical coverage to help with the costs of any medical costs an injured person might incur after being hurt on your property, which you can be found legally liable for covering. With medical coverage, you don’t have to pay this entire amount out of pocket all at once.
An outdoor entertaining area, like a deck or gazebo with a summer kitchen, can be a source of enjoyment for yourself and guests, but unless it is well lit, it can be the scene of accidents once people start drinking and wandering around in the dark. Guests can easily twist an ankle or fall from the elevated height of a deck or balcony if they miss a step. Be sure the area is well lit, consider adding a safety railing to any stairs, and make sure your insurer is aware of it in case of a guest injuring themselves. Again, the addition of personal liability insurance and medical coverage insurance can be helpful in situations like these to cover any injuries to invited guests.
Adding an extra layer of protection to your home in the form of a security system can prevent criminals from getting into the home or even stealing packages left on the front porch. With cameras and remote monitoring, you can ensure that any security related incidents are promptly noticed, and you can call for authorities right away. Some insurers may reduce your premium upon finding out that the home is better protected, while others simply see it as you doing your due diligence as a homeowner. The best way to find out is to speak with your insurance company directly. If you don't presently have an insurance company, you can search for the best property insurance agency near me to get the process started.
If you are wondering if the policy you currently have is sufficient or if you should add to it, the best thing to do is ask the experts. Alpine Castle Lake is staffed by locally based insurance experts who can help you understand the extent of coverage needed to protect your assets. Contact the Alpine Castle Lake office to find out more about the kinds of coverage you need to protect yourself with the Best property insurance agency in Idaho Falls.