Renovations and Home Insurance
After renovating your home, it is easy to sit back and enjoy your new and improved house. However, after all the sawdust is swept up, you are not quite done. You still have to talk with your insurance agent to ensure that your homeowners insurance policy is providing enough coverage.
Since most renovations that you make to your home will increase the value of the house, you will also have to increase the coverage that is provided by your homeowners insurance policy. Your home insurance is meant to cover the cost to rebuild your home if it is a complete loss, the higher the value of your home, the more coverage you will need.
No matter what type of renovation you are making on your house, whether building a second story, or simply remodeling your bathroom, the sooner you let your insurance agent know, the sooner you can get the insurance process moving. If you are going to have to store any of your belongings during the renovating, you should also make sure that you have enough protection for your stored items.
Even if the renovation does not raise the value of your home, you will want to let your insurance agent know. If you build a backyard deck, and someone falls off of it, your liability claim may be denied if you did not tell your insurance company about the deck. Your insurance company may even decide to completely drop your coverage.
Contact the insurance professionals at Young Insurance in Burbank, California for all of your homeowners insurance adjustments after making any home renovations. We will work with you to ensure that you have the right amount of coverage for your specific needs, all at the right price to fit your budget.