6 Home Renovations that Can Affect Your Insurance [Video]

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Logo, Travelers. Title, Can home renovations affect my homeowners insurance? Animation, a porch is added to a home

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Home renovations can make your home more enjoyable, but can also mean you need to update your homeowners insurance. So before tackling that new porch, remodeling your kitchen, or adding a patio or deck, make sure you have the coverage that fits your updated home. Here are some tips.

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Before you renovate, ask your agent if you need to make any changes to your homeowners policy, because some upgrades, like adding a living space, a pool, or other detached structures may require you to increase your coverage as a result of the renovation.

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On the other hand, some home renovations, like security systems, fire protective devices, and green home certification can qualify you for savings on your policy.

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承包商将文件标记为房主提供了一份文件。

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Also, it's important to ensure your contractor has insurance. Ask them to provide their certificate of insurance.

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A cursor scrolls through the Travelers Your Insurance page online.

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Home remodeling or not, it's a good rule of thumb to review your insurance annually to make sure your coverage is still appropriate.

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Text, Make Some Changes? The cursor clicks on the Update Insurance button.

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If you're considering a home renovation, talk to your Travelers representative or independent agent today.

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Travelers dot com. Travelers Casualty and Surety Company of America and its property casualty affiliates, One Tower Square, Hartford, CT 06183. This material does not amend, or otherwise affect, the provisions of any insurance policy issued by Travelers. It is not a representation that coverage does or does not exist for any particular claim of loss under any such policy. Coverage depends on the facts and circumstances involved in the claim or loss, all applicable policy provisions, and any applicable law.

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如果您打算进行家庭翻新，则可能需要先致电您的保险代理，因为此决定可能会影响您的房主保险。一些房屋翻新将改变您需要的覆盖范围，而另一些则可以帮助您获得资格a discount。We cover six common scenarios that could affect your insurance, so you can plan ahead.

1. Building a New Addition

When you expand and improve your home, you could likely increase its replacement value. This is the cost to repair or rebuild your home. Some additions that could increase your replacement value include: adding a second-story bedroom, expanding the living room or building a new garage.

构建新添加或进行更新或其他改进后，您可能需要increase your coveragebecause the value of your home, and the cost to rebuild it will likely have increased. Most insurance companies require your Coverage A or dwelling coverage limit be at least 80 percent of the replacement value of your home.

您的保险代理可以重新计算您的房屋价值，以确定由于增加或改进而需要更多的覆盖范围。

2. Building a Pool

If you're looking to add a pool, you will want to contact your insurance agent to review coverage for changes to your property's value, as well as any increase in risk. When people are swimming and running around the pool, there's the chance for an accident. If someone gets hurt, they could try to hold you responsible for damages. This can apply even if the accident isn't your fault.

Check with your agent to see whether your existing policy covers a pool and if you need to increase yourliability coverage。This coverage can help pay damages to injured persons and provide for a defense if you are sued as a result of their injuries.

You should also ask your agent what steps you can take to keep your pool safe so you can avoid accidents. Adding a fence with a lock is a smart move. You could also add lights with motion sensors or a pool alarm to discourage trespassers. Consider skipping the diving board, because this increases the chance of an accident and your insurance cost.

3.添加甲板

A new deck is another improvement that can add value but also risk, especially if the deck is attached to a second story or higher. You should let your agent know that you've added a deck, so he or she can adjust your policy as necessary.

4. Renovating the Kitchen

升级厨房可以显着增加房屋的价值，尤其是当您切换到更高质量的台面，电器和新地板时。您应该联系您的代理商，以查看您是否需要increase your insurance coverage。

If your contractor upgrades the plumbing or electrical wiring as part of the renovation, ask your homeowners insurance agent if you qualify for adiscount or if your coverage needs to be adjusted。These upgrades can reduce the chance of flooding water damage and fire, so check if your insurance company has discounts that can help to reduce your premium.

5. Finishing the Basement

完成地下室也可以增加房屋的价值。这意味着您可能需要更多的房主承保范围。洪水可能是一个问题，尤其是对于您家中最低的地板。重要的是要注意，大多数房主保险单都不涵盖洪水造成的损害。要求您的经纪人查看您的承保范围，并查看您是否可以采取任何步骤来帮助防止将来的损害，例如installing a sump pump。

6. Redoing the Roof

Before you redo your roof, ask your insurance agent whether this could qualify for a discount. Some companies offer a discount when you reinforce the roof or use stronger roofing materials that are wind, hail and leak-resistant. Your agent can explain how to qualify. At the same time, redoing the roof could increase your property value, which means you might need more coverage.

When you’re considering making home renovations, it is a good idea to contact your本地独立代理or a Travelers representative toget a home insurance quote。Their knowledge and expertise can help you get the most out of your discounts while making sure your home is adequately insured.