Home renovations can improve your quality of life and add value to your home. However, they can also impact your home insurance policy. Granbury, TX, homeowners will want to talk with an insurer before making changes and then update the home insurance policy after the renovations are complete to ensure the home is fully covered in the event of an unfortunate incident.
How to Update Your Coverage
Talk to your insurer about your planned renovations. Your insurance company can tell you if the modifications you make to your home will raise or lower your rates. Your insurer can also tell you if you need additional forms of coverage. For example, if you use expensive materials to redo the home exterior, you may want to purchase replacement cost coverage. This type of policy will provide enough compensation to rebuild using the exact same materials should the need arise. If you add a pool or trampoline to your yard, upping your liability coverage may be in order, as the risk of accidents on your property increases with these additional features.
Once the renovations are complete, inform your insurance company. The insurer may want to send an inspector or appraiser to your home to see the completed repairs and update the home’s cash value. Your insurer may also ask for evidence that a professional did the work. DIY work may save you a few dollars but can void your policy, especially if you didn’t take out a permit or ensure your work is compliant with local building codes.
Call Texas Classic Insurance for More Information
Texas Classic Insurance specializes in helping Granbury, TX, homeowners find excellent home insurance to meet their exact needs. Contact us to learn more about our policies and policy bundles.
Recent Comments