Insurance and Coronavirus

Quarantine has affected us all differently, but I think a lot of us have gone in search of new hobbies. Some took on reading, and there seems to be waiting lists for every book on the public library kindle app. Others turned to baking, and we saw a shortage in flour and yeast from the popularity of bread baking! If you have walked into or driven past a Home Depot or Lowes in the past months, you’d know that tons of others have turned to DIY projects around the house.

Personally, I have done them all (well, I tried to jump on the bread train but I was just too late to get all the ingredients). I recently bought a van and decided to use my time at home to flip it into a little home on wheels. But what does this mean for insurance? What do any of these DIY projects we have started to take on mean for our insurance?

MoneyWise has a great article about this (see below for the link). They say, “when you make changes to your home, vehicle or personal property, it’s a good idea to review your insurance coverage. Your limits and liability should reflect your current circumstance so that you’re adequately insured in an emergency. Some of your quarantine DIY projects could have an impact on your insurance coverage needs and premiums.”

What projects have you taken on? Have you reviewed your insurance or even considered making changes?

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