Home Changes that Affect Insurance

AdviceHomes

Profile Pic

763-286-1295

[email protected]

13322 Uplander St NW

Andover

MN

USA

55304

image description

Home Changes that Affect Insurance

Homes often grow and change alongside the people living in them. If you've made some expensive purchases or considered making some upgrades, it's important to re-evaluate your homeowners insurance and make sure your policy reflects those changes. Here are four instances when you should review and adjust your coverage.

Remodeling or Renovation Work
Home improvement projects typically increase the value of your home, which usually calls for more coverage . But that doesn't necessarily mean your insurance rates will automatically increase. In fact, some projects, like adding a new roof, may help you save on your monthly home insurance premiums. Just be sure to notify your provider before any work begins.

Adding a Pool or an Outdoor Trampoline
Because these fun home features come with increased risk of injury, they're labeled an attractive nuisance . Upping your liability insurance helps keep you protected from being sued for damages if there's ever an accident on your property.

Acquiring New Valuables
Whether you inherit them or purchase them, expensive goods such as jewelry, art, rugs or antiques should be added to your policy. Increasing your coverage is the only way to safeguard them in the event of damage or theft.

Starting a Home Business
Many home-based business owners don't realize they have little, if any, coverage from a homeowners or renters insurance policy. Since a new home business likely means purchasing new technology and expensive equipment, you may need to get additional protection.

You worked hard for your home. Secure your belongings by updating your coverage to match your circumstances.

image description
Nicholas Montgomery
Nicholas Montgomery