Renovating your home can be a great way to increase its value while improving your quality of life. However, it’s important to realize that it can impact your home insurance policy if you don’t work with your insurer before and after the work is done.

How Home Renovations Impact Insurance

When you purchase a home insurance policy, your insurer agrees to insure the home in its present condition and at its present value. If these factors change, you’ll need to inform your insurer and update your coverage to ensure your home remains properly covered at its current value.

Some home renovations also affect liability coverage. A new pool, for instance, increases the likelihood of accidents on your property and will likely raise the cost of coverage. However, if you don’t tell your insurance agency about the pool, your insurer can deny compensation for any pool-related accidents. On the flip side, safety features such as a new smoke detector system can lower the cost of coverage by decreasing the likelihood of accidents.

If you’re not sure how certain home improvements will impact your coverage, talk to your insurer before you start work. Bear in mind that your insurance agency will want to ensure you have needed permits and that the work is done by a licensed contractor. DIY jobs without proper permitting can result in your insurer revoking coverage.

Call TruePoint Insurance in Pooler, GA, for More Information

Want to find out more about home insurance liability coverage? Our TruePoint Insurance office in Pooler, GA, can answer any questions you have, help you review coverage options, and find home insurance that meets your needs without breaking your budget.