Frequently Asked Questions
Here are answers to some of the questions you may have as a new customer!
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Yes, insurance policies automatically renew. Your carrier will send you a renewal statement a few months prior to renewal, and if you have no changes, the policy will automatically renew. As part of our renewal process, Covered Customer Service Agents begin reviewing your policy and 35 days before your policy renewal, the team performs a renewal shop to ensure you are receiving the most competitive rates. Keep an eye out for emails from the Covered team as we get closer to your renewal date as we will help you through the entire renewal process.
Everything is essentially good to go! We check for any rate changes or potential changes in carriers so you always get the most competitive rates. It’s one of the best parts of being a Covered customer - we do all the heavy lifting for the reshop, compare, and purchase or simply renew the current terms.
Covered has an entire team gearing up to ensure you have the most competitive rates on your coverage. We base your policy review on the terms of the policy as they are currently listed, so if you have made any changes to your property such as renovations, adding a gazebo, getting new windows, or installing new appliances, you will need to let us know about those as we would want to ensure everything that changes the value of your home or the value in your personal property gets included for the policy coverage.
With our renewal process, Covered does the reshop and if we find you have bundling opportunities, we will get in touch with you to get your coverage bundled. If you know you want to bundle before the policy review and your renewal date, simply call us at 833-487-2683 or email service@itscovered.com to speak with someone on our team.
Typically homeowners insurance policies renew annually. Covered will notify you 60 days prior to the renewal date and then our team begins the policy reshop for you to make sure you get the most competitive rate for the renewal. You will receive a renewal statement a few weeks before the renewal date. If you know there are coverage gaps prior to the renewal date, you can change your coverage at any time, but depending on the carrier your policy is with, there may be a fee to make changes prior to the renewal date. Give us a call if you want to get some information on renewals before the renewal date of your policy.
Not only is reviewing your policy coverage important when you make major improvements to your home, acquiring new items like expensive jewelry or a flat-screen TV should also be added to your policy. Be sure to add anything you have bought to your home inventory and update your policy to reflect the new values. These items add up quickly, so make sure to let your Covered Insurance Advisor know so we can adequately cover your personal property.
Typically certain types of property have limited coverage with standard policies, so it is a good idea to itemize certain valuables not only to increase the coverage amount, but to broaden the types of covered losses. Items like an expensive ring are not covered under standard home insurance policies, so insuring in case of loss through itemizing it, you’ll be able to rely on insurance helping to cover the cost to replace it.
Get in touch with Covered so we can get the new upgrades included in your policy. If you made upgrades over the course of the year, make sure you documented everything you did and we can assist in adding these to your policy coverage. Do this before your policy renewal or let us know when you hear from us beginning at the 60-day time leading up to your renewal. Outdoor upgrades are categorized as 'other structures 'and aren’t always included in your standard policy unless you specifically purchase the coverage. So make sure to let us know and we can get these items included in your policy.
Any time you make improvements to your home, the value of your home changes, and in terms of insurance, the cost to rebuild or repair it increases, meaning you will probably need to increase the limits on your policy to make sure the new values are accounted for in the event something happens and you need to get things replaced, repaired, or rebuilt.
Bathroom and kitchen remodels are something to keep in mind as they can increase the cost to repair or rebuild a home while increasing the actual value of the home. The actual items you purchased for the renovation like a new refrigerator or stove for your new kitchen will need to be adjusted against your personal property coverage and then we will also need to review your dwelling coverage limit to ensure you have the right amount to repair or rebuild your home.
Added note: If you are relocating during a renovation, speak with us about getting dwelling coverage under renovation, repair, or remodeling coverage, which provides theft coverage for building materials while you are away. You can remove this coverage after you return back home.
Dwelling coverage covers the rebuild of a home in the event of disaster. Although your home may have cost you $600,000, the cost to rebuild your home may only be $350,000 based on materials and labor at the time. When you do a basement renovation, you will want to verify water damage coverage, as well as review the value increase in the home from the basement renovation. With a finished basement, the cost to rebuild has just increased with this new area of your home, so make sure you let us know so we can verify you are protected and change things in your policy as needed.
If you purchased a homeowners policy, you need to be aware you may be subject to an exterior home inspection within the next 30 days.
Don't worry though, you don't need to be home for this inspection. It is only performed to ensure your home is in good order and does not have any uninsurable conditions. If you have any dogs, please be sure to have notices posted around your property.
Prior to the inspection, make sure your home is in good condition. Clean up any clutter and ensure that all areas of the property are accessible, including the basement, attic, and crawl spaces. It's also helpful to gather any relevant documentation, such as proof of recent upgrades or renovations.
Home inspection purposes vary depending on the insurance carrier, but in general, here is what to expect:
During the inspection, a qualified inspector will assess various aspects of your home, such as the structure, electrical systems, plumbing, HVAC (heating, ventilation, and air conditioning), roof, and overall safety features. They may also evaluate the condition of the property and identify any potential hazards or risks.
After completing the inspection, the inspector will provide you with a detailed report outlining their findings. The report may include information about any issues or deficiencies discovered during the inspection.
Once the insurance company receives the inspection report, they will review the findings to determine your eligibility for coverage. They may consider the overall condition of your home and any necessary repairs or upgrades. Based on their assessment, they will decide whether to offer you insurance and at what premium.
If the inspection report reveals any significant issues or concerns, the insurance company may require you to address them before providing coverage. In such cases, you may need to repair or replace certain systems or components of your home to meet their requirements.
It's important to note the specific requirements and procedures can vary between insurance companies. Some insurers may not require a home inspection for certain types of coverage or may rely on alternative methods, such as virtual inspections or self-assessment questionnaires.
Contact the Covered Insurance team directly to understand your carrier's specific process and requirements for a home inspection.
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