7 life changes that can affect your insurance coverage

Presented by DPJL Agency
When should you check your insurance coverage? The short answer is as many times as there are changes to your circumstances – from minor adjustments to big decisions. Here are seven changes that can impact your coverage.
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Big-ticket purchases

Planning to buy your first home, a new vehicle or a cottage? Long before closing the deal, it’s a good idea to check the cost of insurance and notify your insurance agent of the specific date you become the new owner.

The same goes for moving to a new home, adding a garage, or even adopting a pet. Think about it!


Replacing your roof or totally renovating your kitchen or bathroom can certainly increase the value of your home, but did you know that these changes can also lower your insurance premium? New plumbing, for example, is a beneficial renovation that will not only contribute to your well-being and peace of mind, but can save you money as well.

But don't wait until the work begins! Save yourself a lot of trouble by contacting your insurance agent before undertaking a reno either inside your home or on the rest of your property. If your insurer is not promptly notified of these changes, some types of loss or damage during renovation or new construction may not be covered. 

Starting to live together

Is your loved one planning to move into your condo with you? Are you intending to have your blended family live together under the same roof? The number of people living at the same address can also affect the cost of your insurance premiums. When renewing your home insurance, be sure to list everyone who lives in your home all or even only some of the time. You should also include their possessions, like TVs, computers or personal clothing because these items increase the total value of items covered by your home insurance.   

Children moving out

Is your oldest going to study in another city? While you’re probably a little anxious as a parent, don’t worry – they may be covered by your home insurance*. In fact, if they’re a full-time student, your current policy may also include them. Simply inquire!

Installing a pool or hot tub

Installing a pool or hot tub is good news for adults and kids, but don’t forget the associated risks! For instance, your basic home insurance doesn’t cover any unfortunate accidents or damage (in winter, for example) involving these items. That's why it's important to inform your insurance agent before you buy or install a pool or hot tub so that necessary adjustments can be made to your home insurance.

Have you opted for an in-ground pool? Complementary coverage will protect both the pool and its fixtures.

Liability insurance is also necessary because accidents can always happen despite the best precautions. And that’s how you can enjoy summer in the water with more peace of mind!

Your grown child just got their learner driver's license

Your son or daughter just got their learner's permit and wants the car keys? Before you hand them over, don't forget to tell your insurance representative. The addition of any regular or occasional driver of a car, motorbike, RV or other vehicle, must always be reported to the insurer.

Owning valuables

Are your jewellery,  artworks or other valuables, properly insured? Some items, whether inherited or recently purchased, are of sentimental value or otherwise irreplaceable. Make sure that they’re included, with their specified value in your home insurance policy. Tip: Make a list of all your valuables and keep a backup copy in a safe place.

Starting a family, going back to school, buying an RV, or...? Every step in life requires careful attention. Will you have the right coverage for your next big-ticket purchase or other change in your life? If in doubt, your DPJL agent is there to help.  

Certain conditions, restrictions and exclusions apply. This website provides general information only. Your insurance policy contract takes precedence at all times.  

The agents at DPJL Agency are there to help you pick your car, home and RV insurance.

If you have questions or would like to get a quote, contact them!

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