Have you updated your insurance?
Four out of 10 (41%) people with homeowner’s insurance policies made no change to their policy in over a year, according to a survey conducted online by The Harris Poll in June of this year.
Another two out of 10 (20%) said they hadn't touched their policy since the day they bought it.
The numbers on the provider side tell a similar story:
56% of policyholders say their insurance provider hasn't reached out to check in on their coverage in over a year
21% say that kind of check-in has never happened at all
88% say they'd want their provider to flag it when their coverage no longer fits their life
Insurance companies aren't required to call and ask whether your coverage still fits your home, and most homeowners aren't opening that file until something forces them to. Life gets busy.
So, consider this my friendly annual reminder to give it a look, and I won’t leave you to hunt down the actual steps to follow to do exactly that.
Because without an annual update, the odds of your insurance not actually covering what you think it does are greater than you think.
The coverage you think you have vs. the coverage you actually have
The Hanover Insurance Group's 2025 Homeowners Coverage Awareness Report, based on a Harris Poll of homeowners age 30 and up, found a wide difference between what people believe they're covered for and what their policy includes.
Here's what that difference looks like for three common types of coverage:
Umbrella coverage: 83% have heard of it. Only 39% have discussed it with an agent.
Valuables coverage: 87% know it exists. Only 26% carry it.
Cyber coverage: 46% know it's an option. Only 7% have it.
Knowing a coverage type exists isn't the same as being protected by it. The Hanover report also found that 66% of homeowners said they'd want to add umbrella coverage once someone explained what it does.
So, we’re looking at a knowledge gap. People aren't skipping coverage on purpose; they don't know it applies to them until someone walks them through it.
What it looks like when the gap catches up with you
The Harris Poll survey found that one in three homeowners who filed a claim said their coverage fell short of what they needed.
Within that group, 14% said none of their claim was covered.
There’s no convenient time for this kind of news, but it’s especially stressful when you’ve filed a claim after a pipe bursts or a storm tears off part of the roof, only to find out the policy you've paid into for years won't cover the repair.
The same survey found that 67% of policyholders said covering a surprise $1,000 expense would be hard for their household.
A coverage shortfall means money you may not have, at the moment you need it most.
A five-minute check you can do this week
A policy review doesn't have to turn into a research project. Pull up your current policy and check these four things:
Your dwelling coverage limit, and whether it reflects what it would cost to rebuild your home today (not just what you paid for it)
Any named endorsements on the policy, like added coverage for jewelry, art, or water backup
The date your policy was last reviewed or updated
Any changes to your home or life since that date, a renovation, a new roof, a home office, a big purchase
If any of those raise a question you can't answer off the top of your head, that's your sign to take a closer look. A policy review is about knowing where you stand before you need to.
Five Minutes Now Beats a Bad Surprise Later
None of this means your policy is wrong. Coverage is built around the home and the life you had when you bought it, and both of those change more than most policies do.
The homeowners in that recent survey who found out their coverage fell short didn't do anything unusual. They hadn't looked at their policy in a while, just as most people haven't.
A five-minute check now costs you nothing. Finding out your coverage isn’t enough after a loss costs you money and a load of stress you don’t need. Taking the time to check your policy this month puts you ahead of the curve before anything happens.
Homeowners Insurance: 4 Questions I Hear All the Time
1. What does homeowners insurance actually cover?
Most standard policies cover four big things. First is the structure of your home itself, so the roof, walls, floors, and anything attached like a garage or deck. Second is your personal belongings, like furniture, clothes, and electronics. Third is liability, which helps protect you if someone gets hurt on your property or you accidentally damage someone else's. Fourth is additional living expenses, which can pay for a hotel and meals if a covered loss makes your home unlivable while it's being repaired.
The catch is that coverage applies to "covered perils," things like fire, wind, hail, theft, and certain types of water damage. Always read your policy or ask your agent exactly which perils are included.
2. How much coverage do I need?
This is where a lot of people get tripped up. Your coverage should be based on what it would cost to rebuild your home, not what you paid for it or what it would sell for. Those numbers can be very different. Land value is not part of a rebuild, and construction costs can climb quickly.
Ask your insurance agent about "replacement cost" coverage, which pays to rebuild or repair without subtracting for age and wear. Also ask whether your personal belongings are covered at replacement cost or actual cash value, because the payout can be very different.
3. Why is my hail and wind deductible so high?
If you live in the Kansas City area, you've probably noticed this one. Many policies here have a separate wind and hail deductible, often a percentage of your home's insured value (commonly 1% to 2%) instead of a flat dollar amount. On a $400,000 dwelling, a 1% deductible means you'd pay the first $4,000 of a hail claim yourself.
That's not a bad thing to have, but you want to know about it before a storm rolls through, not after. Check your policy declarations page, and make sure you could comfortably cover that amount if you needed to. Insurers also often offer discounts for impact-resistant shingles, which is worth asking about if your roof is getting older.
4. What's not covered?
Here's the one that surprises people most: standard homeowners insurance does not cover flooding. Floods from rising water, heavy runoff, or overflowing rivers and creeks need a separate flood policy. Earthquakes usually need their own coverage too. Normal wear and tear, pest damage, and problems from poor maintenance are also typically excluded.
Even if you're not in a designated flood zone, it's worth asking about. Flood damage happens outside high-risk areas too, and flood policies often have a waiting period before they start, so you can't wait for the rain to buy one.
Quick closing note: Every policy is different, so the best move is to sit down with a licensed insurance agent and go through your specific coverage line by line. If you're buying a home and need a recommendation, I'm always happy to connect you with someone I trust.
Mark Wiesemann, Realtor® | RE/MAX Heritage
Phone: C: 816-914-2845, O: 816-224-8484
Email: [email protected]
Website: markwiesemann.rmxheritage.com
