Home Insurance and Renovations

Renovating your home is a great way to make your house more comfortable for your whole family. From adding on a new room to redesigning your bathrooms, it is important to know how a renovation can affect your homeowners insurance rates. Keep these common renovations in mind to give yourself an idea of how your home insurance will change.

  • Building a pool – installing a pool in your backyard will increase your home insurance costs since the cost to rebuild the pool if your home is completely destroyed will have to be factored into the overall rebuilding cost of your house. There are also increased liability risks associated with owning a pool, such as someone getting hurt while swimming.
  • Creating a home office – transforming a room in your home into an office will lead to increased home insurance rates since you will have to ensure that all of your work equipment is properly covered in case of damage or destruction.
  • Adding an addition – any extra living space that you add onto your home will lead to increased home insurance costs, since the cost to repair or rebuild the new area will have to be factored in. Your home insurance will also take into consideration how much it would cost to replace any personal items that you keep inside the added living space.
  • Re-doing your roof – replacing or re-doing your roof will help to lower your home insurance premiums. New roofs are less likely to be destroyed in a disaster, and will also help to keep your home strong and sturdy.

For all of your homeowners insurance coverage needs to ensure that you have the right amount of protection for your home, contact the insurance experts at North Central Insurance in Elk River, Minnesota. We will work with you to ensure that you have the right amount of coverage, all at the right price.