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Why You Should Call Your Insurance Agent after a Home Renovation

Congratulations on the completion of your home renovation project! If you’ve added space to your home, updated your kitchen or bath, replaced a roof or windows, or made other significant changes to your home, it’s time to give your insurance agent a call.

Improvements to your home can affect your insurance coverage and your policy premium. To make sure your home’s new space or upgrades are adequately covered, give the Lake Region insurance experts a call to review your policy.

Home Improvements That Require Additional Insurance Coverage

If you have completed an addition, refinished your basement, or remodeled and upgraded your kitchen or bathroom, you should have your insurance agent review your current homeowner’s policy. These types of renovations increase the value of your home. In the event of a loss, you want to make sure that your insurance policy will provide enough coverage to replace your home’s livable square footage to the standard of quality you now enjoy.

What counts as livable square footage of your home? Livable square footage includes a new addition to your home or finishing basement or attic space. Some outdoor upgrades, such as a porch or deck are also considered livable space and can require additional coverage. If you made significant upgrades to your kitchen or bath during a remodel, you want to increase your home’s dwelling coverage, too. Examples of significant upgrades include swapping laminate countertops for granite or installing custom cabinetry.

Home Improvements That Could Save You Money on Homeowner’s Insurance

Some home improvement projects can actually save you money on your homeowner’s insurance policy. Replacing your aging roof can earn you a discount on your insurance policy. So can replacing an old furnace or water heater.

Updating your home’s wiring or plumbing systems may also reduce your policy premium because it decreases the chances of a fire or water damage. Lastly, a new security system or in-home sprinklers can help you save money on your homeowner’s insurance policy. Don’t let your new kitchen, basement, or addition go unprotected, or leave money on the table after a roof replacement or upgrade to your home’s plumbing and wiring. The Lake Region insurance team can review your policy and recommend coverage changes to make sure your home is properly protected. Contact our friendly, experienced insurance agents today.

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