- Before buying any home/property, be sure to get a professional, detailed inspection report. Within this inspection report, any items needing repaired, replaced, or serviced will be noted. This is an ideal and opportune time to address these issues prior to a potential claim.
- If you are searching for a new home or investment property, you will want to obtain a thorough quote for the insurance cost and any requirements that the insurance company may have. Additionally, you will need to request a loss history report, which outlines any/all claims filed on the property in question. Doing this ensures you, the insurance company, the realtor, and the lender are aware of potential claims and whether or not each claim has been addressed and fully resolved.
- If/when you have a claim, address it asap. Most claim situations only worsen with time if not addressed as it happens. Document when it happened, the exact cause or source, and notify your insurance company as soon as possible.
- Secure all windows, ensuring no glass and all are properly sealed. Windows that have holes or aren’t sealed properly weaken the effectiveness of your AC/Heat unit, but more importantly, pose a serious threat during a storm with heavy rain and damaging winds.
- Make sure your electrical and plumbing have been updated recently. Some of the more common old plumbing issues are the presence of lead, bad sewer lines, weak connections, and galvanized pipes, which over time can lead to corrosion. Old wiring has the potential to cause sparks, leading to electrical shock or fire. Common signs of faulty wiring may include flickering lights, frayed wiring, warm/vibrating wall outlets, and the smell of burning odors.
- Your gutters should be clean/clear of debris. If your gutters are full of leaves, twigs, etc., they won’t be able to carry out their primary function of water management away from the roof and foundation.
- Walk your entire property often to notice any/all holes, rocks, bees nest, dead or rotting trees, any object that would create a hazard or present a source of liability for your family, neighbors, and guests
- Use licensed contractors for all repairs. Far too often, in an effort to save a few dollars, individuals use a friend or family member (who is not licensed) to repair or replace decks, windows, roofs, electrical, plumbing, etc. This can create problems related to liability exposure, issues of negligence, posing major issues when/if you decide to sell or rent out your home. Do your best to minimize the potential of someone filing a lawsuit against you related to your negligence.
- Do not post pics on social media while on vacation. All too often, thieves look for opportunities to break into your home, and knowing you’re gone presents a much easier path.
- Are your carbon monoxide and smoke detectors in good working order? These exist to protect us and can be our lifeline in moments of danger.
- Be mindful of roofing contractors that you do not know. Oftentimes, after a storm certain roofing contractors will ‘drop by’ and tell you that they noticed damage to your roof, and will encourage you to contact your insurance company asap. Bottom line, do your research and only use licensed, reputable contractors.
- Use good lighting around your property to deter any criminal activity. Thieves are less reluctant to target a home if there are a lot of lights in/around the property.
- If you are able, utilize a monitored alarm system or install audio and video surveillance.
- Clean air filters and dryer vents on a regular basis.
- Do not leave any candles burning while you sleep or leave the home.
- Check for any water leaks in your crawlspace or basement frequently. Also, it is a good idea to periodically look up at your ceilings in all your rooms to notice any brown spots or water stains.
- Know exactly where all your fire extinguishers are located, and know how to use them.
- Take current pics/videos of all your personal belongings. In case of a burglary, fire, or claim situation, the adjuster will need an itemized list of all your personal contents. Some of the more common items that are stolen are jewelry, important documents, tools/equipment, cash, guns, medications. Lock these items in a secured cabinet to prevent identity theft and identity fraud.
Golden Point: Home maintenance and bridging any gaps in your coverage can prevent many unnecessary claims. Preventative measures and having your policy reviewed often are vital in reducing claims and minimizing liability exposure. On Point Insurance Consulting has the expert knowledge and industry experience to guide you through this process. Whether you own a business, are a first time home buyer, or have owned your home many years, knowing how to handle claims and what measures to take to prevent them will save time, energy, money, and reduce any work interruption.
- Consider endorsing your policy to add flood insurance, earthquake coverage, water backup and sump, identity theft. Also, insure any business tools/equipment, 3 or 4 wheelers, and make certain your lawn equipment is locked, ideally in a garage or storage building.
- Make sure your shed, barn, storage building, and pool are properly covered AND the contents within.
- Be very cautious of who exactly you allow into your home.
- Do your very best to not make any enemies, including managing your temper while you drive. Road rage has created too many accidents including vandalism and home burglaries.
- Have a friend or family member pick up your mail, newspaper, and any deliveries. Accumulating mail, newspapers, and packages left unattended certainly is a red flag to an unoccupied home.
- Turn off your water at the main valve when you’re going to be on vacation. Broken pipes are a major source of water damage.
- Have your Air Conditioner and Heating serviced yearly. Being proactive will ensure its peak performance and hopefully catch any major issues early.
- Consider adding a sewer backflow valve. This ensures water or sewage will only flow OUT of your home. Many homeowners that have had a pipe burst and not had this valve installed have incurred extensive water damage.
- Guard your pets when you have guests on your property. This can be a major source of liability concern, and thus, lead to legal action if a person is injured by your pet.
- Consider adding an endorsement for food spoilage if your insurance company allows. A widespread power outage can destroy food in less than 6 hours. Specifics on coverage vary by insurance company, so you will need to ask your agent for details.
- If your home will be vacant or unoccupied for a lengthy period of time, notify your insurance company asap. Your policy may need to be amended or adjusted. This is also true if you plan to change the occupancy status from owner occupied to tenant occupied. You can find great tips for winterizing your home here.
- If you plan on upgrading any features or adding onto your home, notify your insurance company prior to any changes or construction. For example, adding a deck, storage building, barn, pool, adding a heated finished area like an attic, basement, sunroom, or upgrading your kitchen or bathroom, are some of the common add-ons or upgrades. Some of these additions and upgrades may dramatically increase the value of your home, and you will want to ensure the right amount of coverage is in force.