Ah, sweet summertime. So many adventures to enjoy like tubing on Tablerock Lake, taking a family vaca, and completing home-improvement projects. Projects large and small affect your home insurance rates. Are you a planner? Maybe a penny-pincher? Read about five common home-improvement scenarios and how they affect your insurance so that you can be prepared.
5 home renovations that may affect your home insurance:
1. New Pool to Stay Cool
The hot and sunny Ozarks’ weather may have you building a pool in the backyard. Pool parties are all fun and games until someone gets hurt. To protect yourself in the case of an accident, you may need to increase your liability coverage. Another tip to keep in mind is to skip the diving board. This feature increases the chance of an accident and your insurance cost.
2. Rebuilding the Roof
There are some discounts available for roofs made of stronger materials. Redoing the roof of your house will also increase your property value. You may need more coverage!
3. Revamping the Kitchen
Upgrading your kitchen can increase the value of your home. New counter-tops, flooring, or appliances will likely need more insurance coverage. Certain kitchen renovations may qualify you for discounts such as upgrades in the plumbing and electrical wiring. These upgrades reduce the risks of a flood or fire.
4. Adding a deck
Are you considering building a deck? A deck provides additional entertainment space, a great location for your grill, and increases the value of your home. However, a deck also adds risk. Let a member of the RIG team know if you add a deck so we can adjust your policy as necessary!
5. Building a New Addition
Adding a bedroom, expanding the living room, or building a garage increases the replacement value of your home. You may need to increase your coverage because the value of your home and the cost to rebuild it have increased. Contact the RIG team to recalculate your home value!
For more information, visit Travelers Insurance.
Improving your home is an exciting endeavor! At Robbins Insurance Group, we want to ensure that you are protected in the case of an unexpected event. When it comes to protecting your home, it is important to understand what your policy covers. Questions? Come talk to your friendly RIG team!