Home renovations can improve your living space, but they can also impact your insurance coverage. As a trusted homeowners insurance broker in Maple Valley, we help homeowners understand how renovations may affect their policies. Whether you’re upgrading your kitchen, adding a new room, or installing a pool, it’s important to ensure your coverage reflects these changes.
Understanding How Renovations Impact Coverage
When you make changes to your home, the value of your property often increases. Standard homeowners insurance policies are based on the cost to rebuild your home, not just its market value. If you complete a major renovation without updating your policy, you might not have enough coverage in case of a disaster.
Some common renovations that require insurance updates include:
- Kitchen Remodels: New countertops, appliances, and cabinets can increase your home’s value.
- Room Additions: Expanding your home means a higher replacement cost.
- Finished Basements: Turning an unfinished basement into a livable space changes your coverage needs.
- Roof Replacements: A new roof may lower your insurance premium due to improved durability.
- Swimming Pools: While a pool adds value, it also increases liability risks.
The Importance of Liability Coverage
Certain renovations, like adding a pool or a deck, can raise the risk of injuries on your property. If someone gets hurt, you could be held liable. Increasing your liability coverage can help protect you from unexpected claims. Our team can help you determine if adjustments are needed to keep your home properly covered.
Inform Your Insurance Broker Before Renovating
Before starting a major renovation, it’s a good idea to consult with an insurance professional. Some home improvements can reduce your premiums, while others might require additional coverage. A quick review of your policy can prevent surprises and ensure you have the right protection in place.
As a leading homeowners insurance broker in Maple Valley, we are here to help you navigate these changes. If you’re planning a renovation or want to review your policy, contact us at American Insure-All® today.
When our previous insurance provider decided to make a change in our career we were a little anxious. We had become accustomed to being on a first-name basis and getting quick responses to our requests. Little did we know at the time we had nothing to worry about as American Insure-All has more than met our previous expectations. Don and his team have been quick to respond to our needs and provide us with the peace of mind that we were looking for in a provider.