Summertime sadly isn’t just about pool parties and barbecues. For many consumers, it also means making a physical move or upgrading their home. Recent data from The National Association of Realtors shows existing home sales hit its highest level in nearly a decade. That’s great news for the economy but many homeowners may not have a complete picture of what’s really involved in purchasing and moving into a home.
A new national survey from Allstate Insurance shows less than half (47%) of respondents say they updated their insurance policy after making improvements to their new home. From changing their locks to buying a security system or updating a bedroom or bathroom, homeowners may be overconfident in their property insurance policies and might be missing out on ways to better protect themselves and save money.Shannon Bowes, Vice President of Homeowners Insurance at Allstate, joined us via satellite to talk about the best tips and practices to keep in mind before making a change.