Renovating Your Home in 2017? Don’t Forget to Update Your Insurance

If you’re planning to renovate your home in 2017, don’t forget to update your insurance. Home improvement projects can affect your current insurance premium and/or coverage. Before starting any home improvement projects in Caldwell, ID, talk to an agent at All About Insurance, Inc., to see how remodeling will affect your policy. The following are but a few of the many renovations that can alter your insurance.

New Roof

Putting a new roof on your home can make you eligible for a discount on your home insurance.  A new roof greatly reduces the risk of damage to your property due to rainstorms, snow, hail or strong winds. Before applying for an insurance discount, ask your contractor to provide you with documentation that your new roof meets local specifications and codes.

Kitchen or Bath Makeover

A classy kitchen or bathroom makeover will add visual appeal to your home as well as increase its value. In order to protect your investments, you’ll need to add these renovations to your insurance policy which will, in turn, increase your premium. On the flip side, if your home’s plumbing or electrical systems were upgraded in the process of making these renovations, you could qualify for an insurance discount as these upgrades reduce the risk of water damage and fire.

Home Office/Business

Turning a spare room into a home office with basic furnishings and computer will do little to affect a standard home insurance policy. In contrast, if you transform your garage into a modern day carpentry shop where costly tools are used and stored, you may need additional insurance coverage to cover possible liability claims or carpentry tool replacement if they’re stolen or suffer loss.

By taking time to discuss home renovation ideas with an All About Insurance, Inc., representative in Caldwell, ID, you can be better prepared to handle any insurance changes these upgrades will bring.