Planning to upgrade your kitchen, expand your living space, or turn the attic into a guest suite? Renovations can breathe new life into your property, boost comfort, and increase resale value. But as you keep renovating, there’s something just as important as picking out new tiles or choosing paint colors—updating your insurance coverage.
Why Renovations Impact Your Insurance
Every change you make to your home can affect its replacement cost, risk profile, and overall value. That means your existing homeowner insurance policy may no longer offer adequate protection.
Let’s say you install high-end appliances or build a new deck—those enhancements can increase the cost to rebuild or repair your home in case of a disaster. If your coverage isn’t updated, you could be left footing the bill for the difference.
Common Renovations That Should Trigger a Policy Update
As you keep renovating, here are some common projects that should prompt a call to your insurance agent:
Room additions or layout changes
Kitchen or bathroom remodels
Roof replacements
Electrical and plumbing upgrades
Installing a pool or hot tub
Building a detached garage or studio
Even cosmetic changes like new flooring or upgraded fixtures might increase your home’s value and affect your policy.
Liability Risks That Come With Renovation
Aside from property value changes, renovation projects introduce new liabilities. Contractors and subcontractors working on your property could be injured—and if you haven’t properly reviewed your coverage, you might be held responsible.
That’s why many homeowners also consider adding or reviewing their general liability insurance during major renovations. It’s a smart way to protect yourself from unexpected legal or medical expenses.
Notify Your Insurance Provider Before You Start
Before you swing the first hammer, check with your insurance provider. Some policies require notification before starting significant renovations. Failing to do so might void your coverage if an incident occurs during the project.
Updating your homeowners insurance isn’t just a smart move—it’s a necessary one. While you may be focused on the details of the remodel, overlooking your insurance could cost you in the long run.
Bonus Tip: Check Your Policy Post-Renovation
Once the dust has settled and your project is complete, request a home appraisal if needed. This ensures your home is properly valued and your coverage reflects all the improvements. You might also be eligible for discounts—new roofs, upgraded wiring, or energy-efficient systems can reduce your premium.
Final Thoughts
As you keep renovating, remember that your insurance needs evolve with your home. Don’t let your updated space go unprotected. Take a proactive approach—review, revise, and reinforce your policy to make sure it grows with you.
For more information or to explore flexible protection options, visit our homeowners insurance services.
