Why You Must Inform Your Insurer If You Are About to Renovate

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Home renovations projects give you the chance to let your personality shine through with the decor of your home, while customizing it to fit your needs. Home renovation projects can range from changing the flooring all the way to rebuilding the kitchen.

Spring and summer are popular seasons for home renovations as home owners want to take advantage of the warmer weather. However, before you can get any work done on your home, you might want to take a look into your home insurance.

Here are some reasons why you should inform your insurance provider about any home renovations you plan on having done:

How home renovations can affect your insurance policy

Home renovations changes the value of your home

Depending on the kind of renovations you opt for, it can alter the value of your home. In most cases, the value of your home increases and your insurance should reflect that change too.  If any damage is incurred, your costs will be covered by your insurance provider. It’s therefore, essential to give your insurance provider a heads up about your plans this also includes any extensions and additions to your property.

Home renovations can make your home insurance invalid

Home insurance policies generally requires the home to be occupied in order for it to be valid. When home renovation projects are going on, homeowners often move out for the duration of the construction, especially if the kitchen and bathrooms are being redone. In that case, your home insurance can become void. It’s therefore, essential to inform your insurance provider to prevent your home insurance from being invalidated.

The liability of any injury of workers will lie on you

When having extensive work done on your property, there’s always a risk of injury to the workers. If a worker is injured on your property, this liability falls on you if you don’t inform your insurance provider. You will have to pay out of pocket for these expenses. Being protected from such liability is crucial when having your home redone.

Extensive renovations affect the classification of your insurance policy

If your home renovation plans are extensive, like changing the exterior wall or replacing the roof, the classification of your home insurance policy could change. Your insurer will have to change your policy to ‘building under construction’ and that covers the construction as well as the belongings in your home.

If you are looking for a reliable property insurance in Bradenton, FL, get in touch with our agents. We also provide vehicle insurance and boat insurance too at affordable rates. Call (941)747-7283 to speak to our agents.


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