Home Renovations That Can Affect Your Insurance
Renovating your home can enhance your living environment and increase the value of your property. Home renovations can be chaotic at first, with debris from demolitions piling up. While looking forward to an improved home environment, you need to be aware of some types of home renovations that could affect your insurance coverage.
Pools
A pool can significantly enhance the value of your home and provide months of enjoyment to friends and family – but the construction process can pose a risk to others visiting your property. While a standard homeowner’s policy provides some liability coverage, you may need to increase your liability protection with a personal insurance policy when you install a pool.
Additions
It may be time to add an office, a “granny flat,” or increase the size of the interior of your home. In addition, when complete, can enhance your home’s value but poses various risks to others visiting your property. The interior can be a construction zone, littered with nails, screws, wood, and walking hazards. Should another person trip and fall or suffer any type of injury on your property, the last thing you need is to deal with the financial losses of an injury claim. Ensure you have adequate coverage if you plan to add on to your home, and a personal insurance policy adds another layer of protection you need most.
Kitchen Remodels
Your kitchen is the heart of your home, and if you choose to remodel it, the value of your property is increased. The process of remodeling a kitchen includes upgrading plumbing, electrical, fixtures, and installing new appliances, along with updating floors, counters, lighting, and cupboards. During the remodel, the kitchen area is a danger zone. Ensure you have sufficient liability insurance coverage during the remodel, and a personal insurance policy is often the ideal option.
New Roof
A standard roof has a lifespan of about 25 years. Eventually, it must be replaced. The roofing process is noisy, disruptive, and depending on the condition of the roof and the size of your home, could take days or weeks to complete. While a professional roofer will be as careful as possible, the risk of falling wood, tools, or tiles can put visitors to your property at risk of injury, and you need to ensure you have coverage to protect you from the financial losses associated with a personal injury claim or lawsuit.
Home Renovations and Insurance Coverage
When planning to renovate your home, whether a major or minor project, speak with a local insurance agent to make sure you are covered during construction. Whether you have purchased a new property and are upgrading it or improving your home by renovating or adding on, don’t forget to meet with an insurance agent to ensure you have enough liability coverage to protect you if an accident occurs on your property – without the right insurance, you could face serious financial losses.
