Wednesday, 20 April 2016

Check it Before you Wreck it: Insurance for Home Renovations

Summer is the most popular time for homeowners to renovate and revamp their houses or condos. There is no better feeling than coming home to a space that looks and feels the way you want it to. Whether you’re designing your new dream kitchen, or finishing your basement, or even minor renovations such as redoing your flooring, it’s important to contact your insurance broker before you begin the process.

Renovations Change the Risk

Insurance is always based on risk. That is how we calculate rates and determine which coverage will best suit your needs. Construction of any kind in your home increases the risk of damage. For example, you may be replacing your windows, and one day there is torrential rain, flooding your home with water, causing damage to your floors and walls. 

If you have exposed walls, you may need to add an endorsement to your policy called a building under construction, it will cost a bit extra, but if anything were to happen to your home during this time, you would be covered subject to restrictions and limitations on your policy.

If you are leaving your home for more than 30 days while renovations are happening, you will need to get a vacancy permit on your home, as the risk of damage including theft and burglary does increase when the home is unattended. 

There needs to be Liability Coverage

If you hired a contractor to do your renovations, be sure to see their Certificate of Insurance with your address on it to ensure they are properly covered. If not, you could be on the hook if a worker is injured on your property.

Update your Policy

Once your renovations are complete, you should call your broker to let them know about the upgrades that have been made to your home. These updates will change the cost to rebuild your home, and could affect all future claims if there is no record of your upgrades. You may see a slight increase in your premiums, but it’s always better to be covered properly now to save you from a potential issue down the road. 


  1. covered properly now to save you from a potential issue down the road.

  2. covered properly now to save you from a potential issue down the road.

  3. Hello. Thanks for the advice.
    I believe that you still need to trust the business professionals. If a person does not know much about something - you do not have to climb and try to do everything yourself. Even if this thing seems simple. It would seem that the complex, for example, in the courage of the outlet. And try to plug it wrong? ...
    The same, for example, if the student needs to buy college paper. These documents should be written by people who are experts in this.

  4. It will be useful for college students to pay attention on Here you can learn more about annotated bibliography writing

  5. Thanks for sharing such nice information. Assignment Help Melbourne providing Assignment Writing and also Solve student problem.

  6. Hey, Your blog is very informative. It is nice to read such high-quality content. Attractive information on your blog, thank you for taking the time and share with us. Myassignmenthelp delivers high-quality content related to do my science assignment.