New Homeowner Insurance Checklist
☐ REPLACEMENT COSTS:
The replacement cost of your home is the starting point of your home insurance. Ask yourself the question: if the house were destroyed, how much will it cost to rebuild it? You don’t have to make calculations: we have specialized software to do this for you. We do recommend Dwelling Replacement Cost coverage when available.
☐ TAKE PHOTOS OR A VIDEO OF YOUR BELONGINGS:
In an event of a claim such as a fire, you are asked to take inventory of all that was damaged. It can be very hard to remember without a photo or video showing what you lost.
☐ DOCUMENT ALL PURCHASES (WITH PRICE):
When exploring coverage options you want to ensure you have enough coverage for all of your belongings. Be sure to add any new purchases to your policy.
☐ DISCLOSE OFF-SITE PERSONAL PROPERTY LOCATION:
During the moving process, you may have some of your belongings in a storage unit or off-site location. Bring this to our attention to make sure your belongings are properly covered.
☐ UPDATE APPRAISALS ON JEWELRY AND FINE ARTS:
Document any collection items you own and the values of these items. Insurance companies have limited coverage for items such as jewelry, guns and silverware. Scheduling items on a home policy would eliminate any deductible and would cover you if the items were lost, stolen or broken.
☐ DOCUMENT DIMENSIONS OF OUTBUILDINGS:
Most home policies have limited coverage to replace structures that are not attached to your home. Bring these dimensions to your insurance provider to ensure coverage on items like pole barns, sheds, detached garages, pools, hot tubs, fences, etc.
☐ DOCUMENT DIMENSIONS OF ATTACHED STRUCTURES:
The replacement cost coverage of your home will typically include any attached structures such as attached garages, decks, porches and breezeways. Knowing the dimensions of any attached structure is important to include in the replacement cost of your home.
☐ RESEARCH FLOODING RISKS:
A homeowner’s insurance plan does not cover flood. Find out if you are in a high risk area, or if your mortgage requires flood insurance. Even if you are not in a flood zone, you may want to have consider flood insurance.
☐ CONSIDER PERSONAL LIABILITY INSURANCE:
Personal liability is homeowner insurance coverage that protects you from potential lawsuits.