How does remodeling affect home insurance?

Remodeling a house to make it your home can be an enjoyable experience, especially when the work finishes. Still, remodeling increases your risk during the process and generally increases the value of a house, so you need to protect your investment during and after the remodeling project. At the Taake Insurance Agency, serving the Columbia, IL, area, our team will work with you to structure the home insurance coverage that protects your family during and after the project.

The Impact of Remodeling and Renovating

The typical home insurance policy offers basic protection during remodeling projects, but accidents can happen, so it is worth considering supplementing your policy during the work period. Some home insurance policies require homeowners to notify their insurance agent about their plans before beginning work. Due to the potential hazards and risk of injuries, homeowners should modify their home insurance coverage or acquire umbrella insurance.

After completing the work, remodeling projects often bring increased home size, enhanced fixtures or furnishings, or add touches that increase the home’s value, and you should update your policy to reflect those changes. Additions such as pools and hot tubs increase your risk and must be identified in the policy. Renovations that modernize your home’s wiring, plumbing, heating, or other system may reduce your risk. 

So, no matter the changes planned, it is best to discuss them with your agent in advance so you fully understand how they may affect your home insurance coverage.

Working with Taake Insurance Agency

Your home is likely one of your most significant investments and needs protection against unforeseen events. Our Taake Insurance Agency team proudly serves the Columbia, IL, area, and we want to help you with all your insurance needs. Call or stop by today to discuss your options.