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Planning a Home Renovation Project?

Planning a Home Renovation Project?
When updating your home or property, it is important to be in contact with your insurance professional. 

  • Home improvements may increase the value of your home, creating gaps in your coverage. 
  • You may be eligible for savings on your home insurance premiums with some types of improvements. 
  • You’ll want to ensure that you have the proper liability coverage, in the case of accident or injury during construction. 
  • If you need to vacate your home during renovations, you’ll want to be confident that your home is covered while vacant and more vulnerable. 
  • You or your contractor may want to consider a Builder’s Risk Policy for the duration of your project, to help insure against theft or damage to building materials during construction. 
Be sure that any contractors working on your home are fully insured, and keep copies of contracts, warranties and guarantees in a safe place. If your project is of the do-it-yourself variety, or you’re enlisting the help of friends of family members, you’ll want to ensure your liability coverage is adequate. 

It’s also a good idea to perform a complete home inventory before the start of the project, to help protect yourself from potential theft or damage. 

Renovations which may affect your insurance premiums:  

  • Additions 
  • New roof 
  • Pool and outdoor living areas 
  • Addition of home office or at home business 
  • Improvements which increase the home’s value, such as kitchen or bath upgrades
  • Upgrades to the value of contents, such as new appliances 
  • Updates to home systems, such as plumbing, electrical, heating and cooling or basement waterproofing/finishing 
  • The addition or removal of a woodstove or interior or exterior fireplaces 
Home renovations can be stressful! 

Regardless of the type of renovation you’re planning, knowing that your property, home, contents and workers are covered will give you peace of mind, while avoiding a potential financial problem.  

Please call us if we can help you prepare for your home renovation project: 519-736-8228