How does remodeling affect home insurance?

Remodeling a home can be a rewarding experience, but it comes with risks during the remodeling process and often increases your home’s value. Both issues have implications for your home insurance, so it is essential that you adequately protect your investment during and after a remodeling project. At the Ruddy Insurance Group, serving the Niles, OH area, our team will work with you to structure home insurance coverage that protects your family during and after the project.

The Impact of Remodeling and Renovating

Most home insurance policies include some protection during the remodeling process. Nevertheless, we recommend (and some policies require) that you notify your insurance agent about your plans before the work begins. Due to potential hazards and injuries, modifying your home insurance coverage or acquiring an umbrella policy may be worthwhile.

Once completed, the changes often increase your home’s size, enhance its fixtures and furnishings, or add amenities that enhance your home’s value and require coverage adjustments. Some additions, such as a pool or hot tub, increase your risk and must be reflected in our policy.

On the other hand, renovations that modernize your home’s infrastructure can reduce your risk. Rewiring an old house, installing new heating, ventilation, and air conditioning systems, or a new roof can reduce your risk and insurance premiums.

So, regardless of your planned changes, we recommend discussing them with your agent in advance to understand how they affect your home insurance coverage.

Working with Ruddy Insurance Group.

The family home is often among our most significant investments, so protecting that investment against unforeseen events is critical. The Ruddy Insurance Group proudly serves the Niles, OH area, and we are here to help you with that process. Call or stop by today to discuss your home insurance options.