for borrowers:
Frequently Asked Questions

In most cases, yes, policies are typically set to renew automatically. Your carrier will usually send a renewal statement a few months before your renewal date, and if there are no changes, the policy generally renews on its own. As part of our renewal process, our Customer Service team reviews your policy and, about 35 days before renewal, shops your coverage to help make sure you're getting a competitive rate. Keep an eye out for emails from the Covered team as your renewal approaches, and we'll help you through the process.

Everything is essentially good to go! We check for any rate changes or potential changes in carriers so you 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 policy reshop, compare, and purchase or simply renew its current terms.

Covered has an entire team gearing up to ensure you have the most competitive rates on your coverage. We base your policy renewal 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 of your personal property gets included for the policy coverage.

If you know you want to bundle before your renewal date, or prior to our pricing review, simply call us at 833-487-2683 to speak with a licensed Covered advisor. Of course, with our Covered renewal process, we will also connect with you if we find bundling opportunities during our reshop of your policy prior to renewal.

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.

Newly acquired 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 may not be covered under your standard home insurance policy. You’ll want to inform a Covered advisor so we can help you determine if you need to increase coverage limits or add an endorsement to your policy.

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 is included in a standard HO-3 homeowners insurance policy. It covers the physical structure of the home, including the foundation, frame, walls and roof. It also covers things built into the home, like cabinets, permanent air conditioner units, furnaces, and water heaters, if they are damaged or destroyed by a covered loss. So, at renewal time, you’ll want to inform a Covered advisor about any upgrades made to the home. Most upgrades are going to increase the value of your home and, most likely, the cost to rebuild or repair. A licensed Covered advisor will help you get the right insurance protection and coverage limits.

Let us know before work begins. Renovations can change your home's replacement cost and may affect your coverage needs, for example additions, upgraded finishes, a new roof, or major systems work. Some carriers also want to be notified about vacancy or construction during a project, since coverage can be limited while a home is unoccupied or under significant renovation. Reach out to us before you start and again once the work is done so we can review your dwelling coverage and confirm you're properly protected. Coverage terms vary by carrier, so we'll check what your specific policy requires.

Features like pools, hot tubs, and similar additions are often treated as "other structures" or "other items" and may not be fully covered under a standard policy, especially if they're added after your policy is bound. If you'd like them covered for replacement value, contact us and we can look at adding the appropriate coverage. Just as important: pools and hot tubs are frequently considered an "attractive nuisance," which can increase your liability exposure if someone is injured, in some cases even if they weren't invited onto your property. We'd recommend reviewing your liability limits, and for homeowners with several of these features, a personal umbrella policy is often worth discussing. Let us know and we can walk through your options.

In most cases, people simply moving in or out won't change your homeowners policy, unless you begin renting the home or a portion of it to tenants, which typically does affect coverage. To be safe, let us know about any change in who occupies the home so we can confirm nothing needs to be updated.

Rates can change for many reasons, and often it's a combination of factors rather than any one thing. Common ones include your location, the characteristics and age of your home, roof type and condition, claims history, and, where permitted by law, credit-based insurance factors. Broader market conditions like rising rebuilding and material costs also play a role. Rating is ultimately set by the carrier. If you'd like, we can review your policy and shop your coverage to look for more competitive options.

Loss of use, sometimes called Additional Living Expenses (ALE), may help pay for reasonable extra costs if a covered loss makes your home temporarily uninhabitable. That can include things like temporary housing and certain living expenses above your normal costs. What's covered, and the limits and time periods that apply, depend on your specific policy and carrier, so check your policy documents or ask us for the details on yours.

Coverage A, or dwelling coverage, generally applies to the physical structure of your home, including the house itself and typically attached features like an attached garage, built-in appliances, flooring, and countertops. It usually covers damage from perils named in your policy, such as fire, hail, or windstorms, subject to your deductible, limits, and any exclusions. Coverage specifics vary by policy and carrier, so review your policy documents or reach out to us to confirm exactly what yours includes.

Coverage A, also called dwelling coverage, is the part of your homeowners policy that protects the physical structure of your home. This includes the foundation, frame, walls, and roof, along with built-in features like cabinets, permanent air conditioning units, furnaces, and water heaters.

If your home is damaged or destroyed by a covered loss, such as fire, wind, hail, or lightning, Coverage A helps pay to repair or rebuild it up to your policy's limit. Standard policies do not cover damage from floods, earthquakes, or normal wear and tear, so it's worth knowing what your specific policy includes.

Because Coverage A is based on the cost to rebuild your home, it's a good idea to keep your coverage limit up to date. If you make upgrades or improvements, let a licensed Covered advisor know. Most upgrades raise your home's rebuild cost, and updating your coverage helps make sure you're fully protected.

Inflation and rising interest rates can push up the cost of labor and materials needed to rebuild or repair a home. As those rebuilding costs rise, carriers may adjust premiums and coverage amounts to keep pace, which can affect what you pay. We can review your coverage to make sure your dwelling limit still reflects current rebuilding costs and shop for competitive options if you'd like.