15 Life Changes To Tell Your California Insurance Agent About

Life doesn’t stop after you get insurance coverage. Maybe you added a bathroom or built an ADU in the backyard, or inherited your grandparents’ antiques. Perhaps your teenager is heading off to Stanislaus State or a UC, or you’re starting a new business. You’ll need to adjust your insurance to match your new circumstances.

Here are 15 life events that should prompt a call to your insurance agent:

1. Getting married or divorced: Many insurance companies offer benefits like multi-car discounts and bundled policies. If you’re getting married, consider scheduling your wedding and engagement rings, since they’ll probably exceed the jewelry theft limit in a standard homeowners or renters policy. Create a new home inventory and increase your personal property coverage when you combine your belongings. If you’re going through a divorce, let your agent know. (Some divorce judgments specify insurance requirements.) Adjust your policies, update name changes, and review your life insurance beneficiaries.
2. Buying, renting or moving to a new home: It would be terrible to lose your home in a fire only to find out you’re underinsured. Make sure your dwelling limit is high enough to cover the cost to rebuild (different from market value), which has climbed in California. Ask about earthquake and flood coverage too, since neither is included in a standard policy. Even if you don’t own your place, a renters policy covers your belongings and adds liability protection.
3. Purchasing a car: Call your agent with the year, make, model, and VIN when you buy a vehicle. Your rate can change significantly depending on the vehicle.
4. Becoming a business owner (even a home-based business): Homeowners policies offer very little coverage for business activity. If you use your car for business, see clients at home, or store inventory or equipment at home, you’ll likely need additional coverage. Ask your agent whether a business owners policy (a “BOP”) is right for you.
5. Doing home renovations or building an ADU: Adding a room, remodeling a kitchen, or building an accessory dwelling unit can leave you underinsured. An ADU you rent out may also need landlord coverage. An increase in the value of your home may require higher coverage limits.
6. Having a new teen driver: When your teenager gets a permit or license, they need to be properly insured. California’s provisional license rules limit late-night driving and carrying young passengers for the first year. Teen coverage can be pricey, so ask about good-student and driver training discounts.
7. Acquiring something expensive: Anytime you inherit or buy something valuable, review the contents coverage on your home or renters policy. Your limits may not be high enough. Also compare the cost of an umbrella policy for extra liability protection ($1 million or more) over your home and auto.
8. Heading off to college: If your student is moving into on-campus or off-campus housing, review your policies to make sure their belongings and car are adequately covered.
9. Installing a security or smart home system: Security systems deter theft, and some smart home devices, like automatic water shut-off valves, can prevent major water damage. Ask your agent about discounts, even if you’re only in the planning stages.
10. Switching mortgage or auto lenders: If the wrong lender is listed on your policy, it can delay claim payments or premium billing, and could even leave you temporarily uninsured.
11. Driving less: Working from home, ending a long commute to the Bay Area or Sacramento, or joining a carpool reduces your mileage. In California, miles driven is one of the top factors in your auto rate, so lower mileage can mean a lower premium.
12. Buying a second home: Whether it’s a cabin near Pinecrest or Twain Harte or a vacation place on the coast, don’t skimp on insurance, especially if the home sits vacant for long periods. Homes in the foothills and mountains can be harder to insure because of wildfire risk, so start shopping early. If you rent it out, ask about landlord coverage.
13. Traveling internationally: If you plan to drive into Mexico, your U.S. auto policy generally won’t satisfy Mexican law. You’ll need a Mexican auto insurance policy before you cross the border.
14. Having your identity stolen: If you’ve been the victim of this kind of crime, consider identity theft or cyber coverage to protect your family in the future.
15. Retiring: Your annual mileage may drop significantly once you stop commuting, and some carriers offer other discounts for retirees.

Don’t forget to keep your insurance agent in the loop as your circumstances change. We’ll help you protect what’s important to you!