Your First Year as a Homeowner: An Insurance Checklist

The first year in a new house is when most preventable claims happen — and when most under-insurance is discovered the hard way. Work through this checklist over your first twelve months and you will be ahead of 90% of homeowners.

Month 1: Document everything

Walk through every room with your phone in video mode. Open every closet, every drawer, the garage, the attic, the basement. Narrate. Save the video to cloud storage. If your house burns down, this ten-minute video is worth more than a $10,000 rider.

Month 2: Find your shutoffs

Locate the main water shutoff, the gas shutoff, and every electrical breaker. Label them. A burst supply line to a washing machine can dump 500 gallons an hour into your floor — knowing where the water main is turns a $50,000 loss into a $500 loss.

Month 3: Install water leak sensors

Cheap battery-powered sensors under sinks, behind toilets, near the water heater, and in the laundry area cost about $15 each. Many carriers offer premium discounts if you install a whole-home smart shutoff. Water damage is the number one non-weather claim in the country.

Month 6: Update your personal property list

Now that you have actually moved in and bought furniture, run the numbers again. Wedding rings, watches, cameras, bikes, firearms, and collectibles usually have sub-limits far below their value. Schedule them individually.

Month 9: Seasonal roof and gutter inspection

In the Midwest, aim for late fall. Clean gutters, check flashing, look for lifted shingles. Most carriers will deny an ice dam claim if the underlying cause was clogged gutters.

Month 12: Review, do not just renew

At renewal, do not just pay the new premium. Ask your agent three questions: Has my dwelling replacement cost kept up with construction inflation? Are my deductibles still right for my savings? Has anything on my property changed that I need to disclose (a new deck, a pool, a home business, a puppy)?