You should tailor your home insurance policy to any change in your life. Update it regularly in order to:
- Receive coverage that suits your actual needs
- Benefit from the fairest and most equitable premium
- Avoid unpleasant surprises in the event of a claim
Any changes that could affect your insurance premium:
- Alarm system installation
- Change in your smoker/nonsmoker status
- Major renovations (e.g., finishing your basement, putting an addition on your home, etc.)
- Acquisition of highly valuable items (e.g., jewelry, paintings, antiques, etc.)
Also take the opportunity to update your home inventory. In the event of a claim, you will have all the information you need about your current possessions.