Lifestyle Changes that Affect Your Home Insurance

Lifestyle changes such as marriage, divorce, retirement, etc., could affect your home insurance.  Some changes could affect the cost of your premium; others could alter your coverage. By discussing lifestyle changes with your Monterey Insurance Group Inc. agent in Huntington, MD, we can let you know if you need to update your insurance to maintain the coverage you need. Here are a few ways that lifestyle changes can alter your coverage.

Marriage

Marriage often results in a combination of two households. As a result, you’ll have more belongings to protect with property insurance coverage. Depending on the value of your combined personal goods, you may need to raise the limits of your property coverage or obtain an insurance rider to obtain the protection you need.

Divorce

Divorce involves the separation of households, which may result in fewer personal goods to insure. We can help you adjust your policy to reflect the changes you need.  

Retirement

Retirement gives you more time to pursue personal hobbies or enjoy more of life’s pleasures to the full. If you decide to add a pool, spa or patio to your home after retirement, you’ll need to update your home insurance to protect these valuable renovations. These costly renovations could also increase your premium. If you plan to share these perks with friends, you may want to increase your liability coverage to protect you against the risk of accidents on your property.

New Pet

You may decide to add a dog to your household. As dogs present a risk of hurting family or friends, you’ll need to inform your insurer, so he can add your pup to your coverage to protect you against dog bites or other pet-related incidents.   

For more information about home insurance options, policy updates and costs, contact Monterey Insurance Group Inc. in Huntington, MD.