Fire Insurance And Home Renovations: Adapting Your Policy During Construction – Written by Mary Van Keuren Written by Mary Van Keuren Arrow Right Contributor, Insurance Mary Van Keuren has written for insurance domains such as Coverage.com and The Simple Dollar for the past five years, specializing in home and auto insurance. He has written extensively for consumer websites including Reviews.com and Slumber Yard. Prior to that, he worked as a writer in academia for several decades. Connect with Marie Van Keuren on LinkedIn Connect with Marie Van Keuren by Email Email
Edited by Mariah Posey Edited by Mariah PoseyArrow Writing Editor, Insurance Mariah Posey is an auto and homeowners insurance writer and editor. She aims to make travel insurance as convenient as possible by keeping the reader at the forefront of her work. Connect with Mariah Posey on Twitter
Fire Insurance And Home Renovations: Adapting Your Policy During Construction
At, we strive to help you make better financial decisions. To help readers understand how insurance affects their finances, we’re staffed by licensed insurance professionals who have spent a combined 47 years in the auto, home and life insurance industries. While we strictly stick to it
Why It’s Time To Update Your Home Insurance
. Our content is supported by Coverage.com, LLC, a licensed entity (NPN: 19966249). For more information, please see our
Founded in 1976, it has a long track record of helping people make smart financial choices. We have maintained this reputation for over four decades, by demystifying the financial decision-making process and giving people confidence about the next steps.
Follows a strict editorial policy, so you can trust we’re putting your interests first. All our content is created by highly qualified professionals and edited by content experts who ensure that everything we publish is objective, accurate and reliable.
Our insurance team consists of agents, data analysts and customers like you. They focus on the factors consumers care most about – price, customer service, policy features and savings opportunities – so you can be confident which provider is right for you.
It’s Time To Invest In Climate Adaptation
All providers discussed on our site are reviewed based on the value they provide. And we constantly review our standards to make sure we’re putting accuracy first.
Follows a strict editorial policy, so you can trust we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards to ensure that this happens. Our editors and reporters thoroughly check editorial content to ensure that the information you are reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
The editorial team writes on behalf of you – the reader. Our goal is to provide the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers and our content is thoroughly vetted to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting reliable and trustworthy information.
Home Renovations: Do I Need To Notify My Insurer?
You have money questions. has the answers. Our experts have been helping you master your money for over four decades. We continually strive to provide clients with the expert advice and tools they need to succeed throughout life’s financial journey.
Follows a strict editorial policy, so you can trust our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual and not influenced by our advertisers.
We’re transparent about how we’re able to bring you quality content, competitive rates, and useful tools by explaining how we make money.
Is an independent, ad-supported publisher and comparison service. We receive compensation for the placement of sponsored products and services or for your clicking on certain links posted on our site. Therefore, this remedy may affect how, where and in what order products appear in listing categories, except where prohibited by law for our mortgage, home equity and other home loan products. Other factors, such as our own proprietary website rules and whether a product is offered in your region or within your self-selected credit score range, may affect how and where products appear on this site. While we strive to provide a wide range of offerings, not every financial or credit product or service contains information.
Best Homeowners Insurance Companies Of August 2023
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com Services are available only in states where they are licensed. Coverage.com may not offer insurance coverage in all states or situations. All insurance products are governed by the terms in the applicable insurance policy and all related decisions (approval of coverage, premiums, commissions and charges) and policy obligations are the sole responsibility of the insurer. The information on this site does not in any way modify the terms of any insurance policy.
A home renovation project can be exciting, stressful and all-consuming. Homeowners are likely to closely consider their project’s budget, as well as details such as design inspiration and a timeline for completing the work. While there are many important considerations to make, an easy detail to overlook is how renovations after the project is completed can change the amount of homeowners insurance coverage you need. Even during the renovation process, you may want to increase coverage to cover the worksite and contractors on your property.
This advertisement is provided by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate. Offers and links appearing in this advertisement are from companies that compensate Coverage.com in various ways. Other factors, such as compensation received and your location, may affect which offers and links appear and how, where and in what order they appear. While we strive to provide a wide range of offerings, we do not include every product or service available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from the advertiser may differ from the offer in this advertisement. All offers are subject to additional terms and conditions.
Although homeowner’s insurance does not directly cover new renovations, your existing home insurance policy may need to be adjusted after your renovations are completed. If you’re planning a minor renovation — maybe some new paint and a set of built-in bookcases in your living room — your homeowner’s insurance may not be affected.
With Climate Impacts Growing, Insurance Companies Face Big Challenges
But big renovation projects, from kitchen remodeling to finishing your basement, can change the overall remodeling value of your home. The residential coverage listed on your homeowner’s insurance policy is based on the estimated rebuild value of your home. Remodeling can affect that value because it’s determined by your home’s characteristics, such as square footage, finishes, number of bathrooms, and roof type.
For example, consider a home insured for $200,000. Owner updates kitchen: new appliances, granite countertops, custom cabinets – the works. The rebuild value of the house is now $260,000. If a disaster such as a fire destroys the home, $200,000 in coverage may not be enough to restore the home to its original condition.
The type of renovations you make to your home will affect the rate of change your insurance requires. Generally, anything that increases the value of your home indicates the need for more insurance coverage and the associated higher premiums. But that’s not always the case.
Adding an addition is an important renovation project that will increase your home’s square footage and will undoubtedly increase your home’s value because square footage is one of the primary factors used in determining the value of your remodel. Building a family room in the back of your home, for example, or adding a space-enhancing dormer on the second floor will add value to your home.
How To Prepare Your Home For Wildfires
The right time to call your insurer for a home addition is while you are still in the planning stages. Once you’ve nailed down the architectural drawings, call your insurance agent and tell them what you’re planning. They can check for possible premium increases so that you are fully aware of your costs post-renewal.
While improvement projects like upgrading your kitchen or bathroom may not increase your square footage, they can affect your homeowner’s insurance policy. Most interior renovations are designed to get rid of old, outdated elements and replace them with new ones. The grade or type of materials used in places like your kitchen and bathroom are often questions your insurance agent will ask when helping to calculate your home’s remodeling estimate. If you’ve upgraded these rooms, it’s worth calling your property insurer.
After these updates, you might want to consider
House insurance during renovations, home construction insurance policy, nelson construction and renovations inc, home insurance during renovations, renovations and construction, home inspection during construction, construction insurance policy, insurance during construction, home insurance during construction, homeowners insurance during construction, insurance during construction of a home, insurance policy for home under construction
