Four out of 10 (41%) people with homeowner’s insurance policies made no change to their policy in over a year, according to a survey conducted online by The Harris Poll in June of this year.

Another two out of 10 (20%) said they hadn't touched their policy since the day they bought it.

The numbers on the provider side tell a similar story:

• 56% of policyholders say their insurance provider hasn't reached out to check in on their coverage in over a year

• 21% say that kind of check-in has never happened at all

• 88% say they'd want their provider to flag it when their coverage no longer fits their life

Insurance companies aren't required to call and ask whether your coverage still fits your home, and most homeowners aren't opening that file until something forces them to. Life gets busy.

So, consider this our friendly annual reminder to give it a look, and we’ll share how to do exactly that. 

Because without an annual update, the odds of your insurance not actually covering what you think it does are greater than you think. 

The coverage you think you have vs. the coverage you actually have

The Hanover Insurance Group's 2025 Homeowners Coverage Awareness Report, based on a Harris Poll of homeowners age 30 and up, found a wide difference between what people believe they're covered for and what their policy includes.

Here's what that difference looks like for three common types of coverage:

• Umbrella coverage: 83% have heard of it. Only 39% have discussed it with an agent.

• Valuables coverage: 87% know it exists. Only 26% carry it.

• Cyber coverage: 46% know it's an option. Only 7% have it.

Knowing a coverage type exists isn't the same as being protected by it. The Hanover report also found that 66% of homeowners said they'd want to add umbrella coverage once someone explained what it does. 

So, we’re looking at a knowledge gap. People aren't skipping coverage on purpose; they don't know it applies to them until someone walks them through it.

What it looks like when the gap catches up with you

The Harris Poll survey found that one in three homeowners who filed a claim said their coverage fell short of what they needed. 

Within that group, 14% said none of their claim was covered.

There’s no convenient time for this kind of news, but it’s especially stressful when you’ve filed a claim after a pipe bursts or a storm tears off part of the roof, only to find out the policy you've paid into for years won't cover the repair.

The same survey found that 67% of policyholders said covering a surprise $1,000 expense would be hard for their household. 

A coverage shortfall means money you may not have, at the moment you need it most.

A five-minute check you can do this week

A policy review doesn't have to turn into a research project. Pull up your current policy and check these four things:

1. Your dwelling coverage limit, and whether it reflects what it would cost to rebuild your home today (not just what you paid for it)

2. Any named endorsements on the policy, like added coverage for jewelry, art, or water backup

3. The date your policy was last reviewed or updated

4. Any changes to your home or life since that date, a renovation, a new roof, a home office, a big purchase

If any of those raise a question you can't answer off the top of your head, that's your sign to take a closer look. A policy review is about knowing where you stand before you need to.

Five Minutes Now Beats a Bad Surprise Later

None of this means your policy is wrong. Coverage is built around the home and the life you had when you bought it, and both of those change more than most policies do.

The homeowners in that recent survey who found out their coverage fell short didn't do anything unusual. They hadn't looked at their policy in a while, just as most people haven't.

A five-minute check now costs you nothing. Finding out your coverage isn’t enough after a loss costs you money and a load of stress you don’t need. Taking the time to check your policy this month puts you ahead of the curve before anything happens.

 

Why 71% of Aspiring Homeowners Are Pausing Other Major Life Decisions with Purpose

To many, the American Dream still centers on homeownership. It’s a symbol of stability and long-term investment. So much so that some Americans are timing major life milestones, like starting a family, launching a business, or changing jobs around the moment they finally get the keys to their own home.

The Coldwell Banker 2025 American Dream Report* reveals that 71% of aspiring homeowners (defined as those who don’t currently own a home but want to someday) are delaying major life decisions until they can afford to buy a home and the ripple effects have yet to play out. This isn’t just a statistic; it’s a story about how homeownership is the new starting line for adulthood.

 

The Pause Button on Life

Picture this:

• A couple postpones expanding their family because they want a backyard first.

• A professional turns down a career opportunity in another city because they’re saving for a down payment.

• Personal goals and even adopting a pet are put on hold, waiting for the first home.

Homeownership is deeply woven into our sense of readiness for life’s biggest decisions.

 

Homeownership: The Milestone That Shapes Everything

We wanted to understand how the idea of the American Dream is evolving. The findings are clear: for many, owning a home isn’t just a goal, it’s the foundation for everything else.

• Nearly 1 in 5 aspiring homeowners (18% each) are putting off marriage or having children until they own a home.

• 17% (each) are delaying career changes or even getting a pet.

• 15% are waiting to start a business/go self-employed.

For younger generations, the impact is even more pronounced. 84% of Gen Z (ages 18-28) aspiring homeowners are postponing at least one major life decision until they can afford to buy, and nearly a third (29%) are delaying having children.

 

Why Is Homeownership So Central?

Despite rising prices and affordability challenges, homeownership remains at the heart of the American Dream. 56% of Americans say owning a home represents the American Dream to them, more than those who say the same for marriage/having children (42%), retiring by 67 (39%), or even earning a college degree (23%). 85% of Americans believe homeownership is still part of the American Dream.

Financial security is a big part of the story:

• 65% of Americans believe buying a home is a smarter long-term financial decision for most people than renting in today’s housing market.

• Nearly half of Americans (48%) see investing in real estate as a better way to build wealth than investing in the stock market.

 

Getting Creative to Make It Happen

Faced with tough market conditions, Americans are finding new ways to reach their homeownership goals:

• 84% of Americans are willing to make concessions to make home buying possible, like taking on side jobs (42%), buying less ideal homes like smaller or fixer-upper homes (35%), or moving to more affordable areas (35%).

• About a third have considered co-buying with family (36%) or friends/coworkers (33%).

• Some (11%) have moved in with parents or in-laws to save to buy a home.

 

Hope on the Horizon

Even with the challenges, optimism persists. Nearly two-thirds of Americans who don’t currently own a home (63%) would like to buy within the next five years, with Gen Z and Millennials (ages 29-44) leading the charge (70% and 72%, respectively).

The bottom line: Homeownership is more than just a place to live, it’s a symbol of stability, independence, and the freedom to move forward with life’s other big decisions. As Americans continue to adapt, the dream of owning a home remains as powerful as ever.

*The report includes data from a survey commissioned by Coldwell Banker and conducted by The Harris Poll among 3,068 adults ages 18+, among whom 885 are aspiring homeowners (i.e., don’t currently own a home, but would like to someday).