Kerryn Boogaard Kerryn Boogaard
Beverly Goldsmith Beverly Goldsmith
Zoe Bingley-Pullin Zoe Bingley-Pullin

Home Insurance Considerations for Empty Nesters:

Here are tips for empty nesters with your insurance.
By Expert Tips
Date: June 16 2022
Editor Rating:
Vu-anh-tivptycg 3e-unsplash

It's finally happened. You and your partner now have the house all to yourselves. The kids are away at school, or on to the next chapter of their lives. While your priorities may be on that dream vacation or turning one of the bedrooms into a study, there are some things you need to keep in mind. One of those is your home insurance policy. After all, you may want to make some adjustments now that things aren't as occupied at the old homestead.

Personal Property Coverage

The first step towards considering any changes in your homeowners' policy is to review your current terms and conditions. After that, call your insurance broker or go online and do a home insurance compare. This will allow you to assess your current policy limits and deductibles, in conjunction with your monthly premiums. A key facet of a home insurance policy is coverage for personal property, and since there aren't as many people living under your roof, you may want to look into insurance products with lesser limits.

With lesser coverage, you'll be able to garner some monthly savings on your insurance premiums. It's also recommended to consider limits. If you're planning on downsizing into a smaller home, you may not need as much property damage coverage. However, you still need to consider what you're keeping on hand. If you have valued collections that are irreplaceable, homeowners insurance is not enough to protect those personal belongings. You'll want to consider purchasing a separate rider on that insurance policy to give you a greater safety net.

Protection from Weather Events

Homeowners insurance policies are a great asset in the event that some nasty weather causes significant property damage inside and outside your house. This usually involves coverage in the event of a storm or lightning, as well as natural disasters. This includes certain limits in the event of flooding, but you may need additional flood insurance depending on the location of your household on flood maps authorized by government officials. Check your policy carefully, as sometimes flood and other disaster events need to be specified.

Be sure to check if you need weather-related liability coverage. Most standard home insurance plans will take care of the replacement cost for roof damage brought on by a storm, as well as claims linked to frozen pipes and sewer back-up. When it comes to any weather-related claims, don't waste any time submitting an insurance claim. Be sure to take pictures of the damage for insurance providers to get the best assessment of what a weather event has wrought on your household.

Other Lines of Insurance

Even though you may not have all of your family members living under one roof, you may still want to maintain a personal liability limit to spare you in the event of an incident on your property. While you may not want to stray from your current homeowners insurance coverage, you may want to consider bundling policies to spare you some cash. Depending on the insurance company, you may be able to tack on auto insurance and other plans to find the best rate possible for umbrella coverage.

Throughout the insurance industry, customer satisfaction has been paramount in recent years to assure that claims are not only handled but policyholders are not left waiting in the wings for reimbursement. Be sure to understand what comes with a covered loss when it comes to replacement cost or actual cash value to understand what you'll be getting back under your policy. Look into what homeowners insurance companies have to offer in terms of additional savings and discounts based on the type of coverage.

Share This Tweet This Email To Friend
Recent Comments
0 Total Comments
Post a Comment
* your email address will not appear

Please enter the word you see in the image below:

Post a Comment
* your email address will not appear

Please enter the word you see in the image below:33343

Your Comment has been posted
Related Articles
Motherpedia cover
Read on to find out another way of securing your…
Read more
Cry babies

Dry your eyes!
The newest additions are on their way from the Babies who cry real tears!


Latest Tech Used In Shipping Containers
Read how the shipping industry has revolutionised

Motherpedia cover-2

Win 1 set of a 4-book hardcover illustrated boxed set
Barbara Murray’s new 4-book Sound Stories is perfect for parents and educators and could assist with NAPLAN results

Motherpedia cover (4)

Where to celebrate Oktoberfest Australia
Get ready for this celebration!

Motherpedia cover-4

A Fortnight of Foodie Experiences at East Village
A taste of East Village. What's in it for me?

Globber my too fix up cover

We Try: Globber My TOO Fix Up
A scooter that grows with your child

Throw a winning cricket pitch

3 Steps to a Winning Backyard Cricket Pitch
Ex-Adelaide Oval legend curator Les Burdett shares his tips for getting your backyard cricket pitch test match ready this summer

A bike that follows your kids life cycle - motherpedia - cover

A Bike That Follows Your Kids Life Cycle
Check out the Bunzi 2-in-1 gradual balance bike!

Moonlight lifestyle

Moonlight Cinema to bring…
Moonlight Cinema announces brand new Western Sydney venue

Screen shot 2019-11-26 at 8.29.12 am

Your Magical Christmas Wonderland…
Adventure park is about to light up the night sky with its "Christmas Festival of Lights"

Screen shot 2019-11-21 at 11.11.36 am

The Preston Market Gets…
It's time to feel pumped up for the holiday season!


Bunnings team members get…
Help raise funds by buying a snag or donating at your local store.