These Common Additions Could Impact Your Homeowners Insurance Policy

Imagine you are hosting an event and someone gets injured on your property. Depending on the cause of the injury, homeowners might be surprised to learn their homeowners insurance policy was not updated in time to cover the pending medical expense. If you are planning to host reunions in the weeks and months ahead, The Insurance Center would like to alert you about factors that could impact your homeowners insurance policy.

“Families have enough things to worry about, and we want to make sure families remain financially secure if an accident occurs,” said Robert J. Sammon, President of The Insurance Center.

Underwriters usually create personalized insurance packages using software that measures the risk of insuring a household. Insurance premiums change under certain conditions because some households are riskier to insure.

In the worst-case scenario, homeowners do not have the proper amount of coverage or they are denied coverage altogether. To help you avoid unexpected losses, The Insurance Center encourages you to learn about the factors that would prompt a reevaluation of your homeowners insurance policy:

A Dog Joined Your Family
There are over 4.5 million dog bites that occur throughout the United States every year, and many of those incidents require medical attention. These facts can increase any homeowner’s liability risk.

Adding Outdoor Entertainment
Thousands of children visit emergency rooms every year to treat trampoline-related injuries. The rate of incidents and potential to attract children could impact the terms of your homeowners insurance policy.

A Pool Has Been Installed
Just like trampolines, pools attract children and they pose a risk to their safety. Additionally, pools add value to a home and, in some cases, you might need to declare it on your policy as a detached structure like you would a shed.

These common additions could cost you more than you realize if you do not take proper insurance precautions. The Insurance Center has been protecting families from financial losses for more than 100 years, and we want to continue that tradition. Call us at 603.542.2551 to update your insurance coverage and to have the peace of mind you deserve.