The right renovations can increase your home’s value while enhancing your quality of life. However, they can also create insurance complications if you don’t communicate with your home insurance company beforehand.
Which Renovations Impact Home Insurance?
Griswold, CT homeowners should inform their home insurance company about any new additions that need to be covered under their current policy. These additions may include building a new wing, constructing a balcony or deck, or converting a basement into a game room or bedroom. Additionally, it’s crucial to hire licensed professionals for electrical or plumbing work and obtain permits for jobs that require them. Failure to comply with these requirements could result in reduced compensation or even claim denial in the event of an incident.
It’s equally important to notify your home insurance company if your planned renovations could make your home less safe. Adding features like a new set of stairs, an outdoor pool, or a trampoline may necessitate an increase in home liability insurance to cover potential accidents.
On the other hand, some renovations can lower your insurance costs if your insurer is aware of the improvements. For instance, replacing an old roof or installing a fire alarm system may reduce your premiums.
Contact Trahan Insurance Agency LLC for Expert Guidance
Are you searching for an insurance policy that fits your needs and budget? Do you need coverage for upcoming home improvements? At Trahan Insurance Agency LLC, we specialize in helping Griswold, CT homeowners find the best insurance policies for their unique situations. Contact us today to learn more about our coverage options or to review policy quotes.