Kodiak, Alaska
122 W Rezanof Dr
Kodiak, AK 99615
(907) 486-3101

4 Home Improvements & How They May Impact Insurance Costs May 21, 2019

Kodiak, Kodiak Island
4 Home Improvements & How They May Impact Insurance Costs, Kodiak, Alaska

Home improvement projects make your house more comfortable and may increase its property value, but they can also affect one’s homeowners insurance rates in some surprising ways. While some renovations can reduce your premiums, others may drive up coverage costs. Knowing how improvements might impact your rates will help you avoid unpleasant surprises and, perhaps, take steps to minimize the impact.

How House Updates Impact Homeowners Insurance Rates

1. Installing a Pool

Owning a swimming pool is a lifelong dream for many people, but those fun summer days come at a cost. Installing a pool raises your property’s value, which means you’ll need to increase coverage. Swimming pools also present a hazard to neighborhood kids and pets, so you may also need more liability coverage. Installing a fence around the pool can reduce the risk and the impact on your premiums.

2. Replacing the Roof

homeowners insuranceThe roof is the single most expensive feature on a house, so most insurers are willing to offer a discount if you use advanced materials resistant to high winds, hail, or fire. Before choosing your new roof, ask your agent which products will lower your premiums.

3. Building a Home Office

If you’re converting an extra bedroom or den into an office, be aware that your homeowners insurance may not cover computers, tools, and other business property. Your liability coverage may also treat clients and employees differently from other guests so you may need to purchase an additional business insurance policy.

4. Installing a New HVAC System

Old furnaces and AC systems are inefficient, but some insurers also consider them a fire hazard. Replacing outdated equipment with modern, advanced models will make your home safer, which almost always translates to reduced insurance premiums.

 

For over 40 years, Sweeney Insurance Agency has helped Kodiak, AK, residents protect their most valuable investments. As an independent agency, they offer policies from several national brands and will work to find the one best suited to your needs. Visit their website for more on their homeowners insurance options, or call (907) 486-3101 to request a free quote.

Other Announcements, Events and Deals from Sweeney Insurance Agency
An Introduction to Home Insurance Inventory Lists, Kodiak, Alaska
If you lose valuables to a theft or major weather event, your homeowner’s insurance company will likely have questions about the property that was lost. Listing everything that was d...read more
3 Factors That Affect Homeowners Insurance Rates, Kodiak, Alaska
Homeowners insurance is invaluable if an accident occurs. However, high rates can discourage you from investing in protection. Luckily, you can lower your rates and keep costs to a m...read more
A Beginner's Guide to Boat Insurance, Kodiak, Alaska
Boat insurance is a valuable investment for boat owners of all types. Whether you own a small fishing boat or a large yacht, finding the right policy will ensure that you are covered...read more
Why You Should Invest in RV & ATV Insurance, Kodiak, Alaska
With summer here, many recreational vehicle (RV) enthusiasts are gearing up for riding and adventuring. Before you get on your quad, hop in your boat, or hit the road in your RV, wor...read more
4 FAQ About Motorcycle Insurance, Kodiak, Alaska
Focusing on safety is a must when you own a motorcycle. In addition to following all traffic rules and riding responsibly, that also means choosing an appropriate motorcycl...read more