August in New England has a funny way of sneaking up on us. One minute we’re waiting for summer to start, and the next we’re talking about back-to-school, Labor Day plans, and how early the sun is setting.
Before we rush into fall, August is actually a very good time to take stock of a few things around the house, at the Cape, in the car, and even at the office.
You don’t need a major life event to review your insurance. Sometimes the best reason is simply that life has changed a little since the last time you looked.
Start With the House
Think about what’s changed since January.
Did you renovate the kitchen? Finish a basement? Replace a roof? Add a deck? Buy expensive electronics, jewelry, artwork, furniture, or equipment?
Those changes can affect the amount and type of coverage you need. There’s also one remarkably simple thing many of us haven’t done: make a home inventory.
According to the Insurance Information Institute (Triple-I), only 47% of homeowners surveyed in 2023 said they had prepared an inventory of their possessions.
A home inventory doesn’t need to be complicated. Walk through the house with your phone and take a video. Open closets, cabinets, the garage and basement. Photograph important purchases and keep receipts for higher-value items.
If you ever have a significant loss, you’ll be glad you did.
Been Spending the Summer at the Cape?
We know plenty of people who divide their summers between Greater Boston and Cape Cod—or are fortunate enough to own a second home.
Second homes bring some different insurance considerations.
Triple-I points out that vacation properties may carry additional risk precisely because they aren’t occupied as consistently as primary residences. A leak, broken pipe, theft, or other problem can go unnoticed longer when nobody is there.
Naturally, location matters. A beautiful property close to the water can have greater exposure to wind, storm surge, and flooding. Standard homeowners insurance generally does *not* cover flood damage, so coastal and near-coastal homeowners should understand exactly where their homeowners coverage stops and whether separate flood protection makes sense.
August Is Still Hurricane Season
Here in Massachusetts, we don’t spend every summer watching hurricanes the way some parts of the country do. But New England certainly isn’t immune to tropical systems, heavy rain, damaging winds, or coastal flooding.
There is also an important insurance distinction to understand: wind and flood are not necessarily the same loss.
Homeowners policies generally provide protection for certain wind-related damage, subject to the terms, exclusions, and deductibles of the individual policy. Flooding from rising water or storm surge generally requires separate flood insurance.
That distinction can become very important during a major coastal storm.
While the weather is good, take a look around the property. Clear gutters and drains, inspect trees and limbs near the house, check the basement for signs of moisture, and make sure your sump pump is functioning if you have one.
Don’t Forget the Cars, Boats and Summer Toys
Summer changes how we use our property.
Maybe the kids are home and driving more. Maybe you bought a different vehicle. Maybe there’s a boat, motorcycle, trailer, or recreational vehicle getting much more use than it did six months ago.
Make sure the people actually driving your vehicles and the property you’re actually using match what your insurance professional knows about.
And if you’ve bought something new this summer, don’t assume it’s automatically protected simply because you already have other insurance.
Ask. It’s one of the easiest calls you can make.
Business Owners: What Changed This Summer?
The same August check-in applies to businesses.
Did you hire employees? Purchase equipment? Add vehicles? Sign a new lease? Expand into another location? Increase inventory? Begin offering a new service?
A business can change considerably in a year while its insurance policy quietly stays the same.
J.M. Whitney works with commercial clients on coverage including property, general liability, workers’ compensation, commercial auto, business owners policies, umbrella coverage and other business-specific risks.
The goal isn’t to carry every policy imaginable. It’s to understand your actual exposures and build sensible coverage around them.
And Then There’s September…
Fall has a way of putting everyone back into business mode. Real estate activity picks up, schedules become busier, businesses start looking toward year-end, and homeowners begin preparing properties for colder weather.
That’s exactly why August is a good time to get a few things squared away.
If you’re considering buying or selling property this fall, our real estate side can help there, too. J.M. Whitney works across residential and commercial real estate in Watertown and Greater Boston, and our current MLS properties are always available through our website.
Insurance, real estate and property ownership are often treated as separate conversations. In reality, they overlap constantly.
Taking Action Ahead of Time is Smart
Do you have your insurance person on speed dial? You should—and Curtis and the team at J.M. Whitney & Co. have been that trusted call for more than 70 years.
From Watertown to Boston and the Cape, we bring deep Massachusetts-specific experience across personal and commercial insurance, real estate brokerage, commercial real estate and property management. Whether you’re insuring a first home, reviewing a longtime policy, protecting a business, or considering your next property, we’re here to help you look at the whole picture.
Share our page with friends, family, or colleagues who could use a knowledgeable local resource. And if something has changed since the last time we spoke, give us a call.
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