While there is no question that a homeowner’s health insurance policy and life insurance coverage for a family should be updated immediately with the birth of a new child, the same can’t quite be said for a Wheat Ridge, CO homeowner’s insurance policy. The general position on the matter tends to be that a homeowner’s policy is focused on the home and its structure as well as associated property risks, not necessarily the addition of a new house-member. The above said, a growing family can impact the amount of personal property covered by a home policy as well as trigger renovations and changes to make accommodations for children or moving in relatives.

When any kind of a construction-type change is being made to a home, even for a family addition, the homeowner’s policy should be updated. Additionally, the expansion of family is going to increase the amount of personal property that needs to be protected, according to the experts at the CO Insurance Specialist. While clothing may not necessarily be a big issue to cover, furniture, electronics and additional appliances definitely should be addressed. Homeowners need to think in terms of what the additional material means to the total dollar figure needed for a disaster recovery, and then they should compare that with the figure that covers personal property loss in the current policy. More than likely, the figure will need to be increased as some point to fully address a larger family’s needs. And remember, flood insurance is separate from home insurance, but it’s the same situation in terms of adjustments.

To find out more about how a growing family indirectly affects a homeowner’s policy in the Wheat Ridge, CO area, the CO Insurance Specialist team is available both by email and phone or even in person to answer questions.