5 Home Renovations That Will Greatly Affect Your Home Owner Insurance Charges

​Are you thinking of renovating your home? Whether you're planning on a minor paint job or a major kitchen overhaul, any improvement may affect your homeowner insurance. Homeowners must always check their policies for anything that covers home renovations. If you don't find it in your insurance policy, contact your insurer right away.

Renovations And Accidents 
Any renovation is a liability and can potentially cause accidents to you and your family and workers involved in the renovation. To prevent accidents and potential liabilities, hire only a professional contractor. Check if the contractor has liability insurance. 
 
Adding A Ground – Level Pool
A pool can catapult the value of your property but will also increase your liability. As soon as you’re drafting plans for a ground-level pool, talk to your insurance company. Your policy will be adjusted to accommodate a major renovation such as a pool.

Additional Square Footage
A huge factor in your homeowner insurance payments is adding square footage to your property. Remember that the assessment of your home’s square footage when you applied for homeowner’s insurance is crucial in determining coverage. When you increase your home’s square footage, you’re also increasing your insurance coverage. Consult your insurer before you draft your plans.

Electrical And Plumbing Updates
If you have an older home, then you might be considering a complete electrical and plumbing overhaul. Improving your home's electrical and plumbing can increase your home's value. Your property and your family will be safer with updated electrical sockets, lighting fixtures, wiring, and electrical connections. A new plumbing system can also help you avoid flooding, mold and mildew, and water damage. All these can greatly reduce insurance costs and payments in the long run.

Roof Upgrades
The best way to protect your home is to upgrade your roofing. A brand new roof can greatly reduce your premiums. Using new roofing technologies like impact-resistant components can help avoid damage due to hailstorms, snow, and extreme rain. Talk to your insurance company about any adjustments in your policy when you install IR roofing. 

Conclusion
Renovations can increase your property's value but may increase or decrease your home owner's insurance coverage. Review your policy before you start any home renovation project.

At Family Auto Insurance Agency, we do our best to ensure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (313) 285-9042 or Click Here to request a free quote.