Whether you're planning a small kitchen update or a whole-house overhaul, it's important to understand any potential effects the project will have on your insurance. This way, both you and your property will be protected in the case of an accident, break-in, or another unforeseen event. Here are some ways a home renovation can alter your insurance coverage.

Before the Renovation

Before hiring a contractor, check that they carry liability insurance. This safeguards you in the event someone is injured or your property is damaged during the course of renovations. Also, consider getting a builder's risk policy, also referred to as a course of construction policy. This is insurance specific to a remodeling or renovation project and may be available as a standalone policy or as a supplement to your homeowners insurance. It protects the home from construction- and weather-related damage, theft, and vandalism for the duration of the project.

After the Renovation

A homeowners insurance policy will likely need to be amended and updated once the renovation is complete. Keep all construction-related records and receipts and share them with your insurance agent to ensure proper coverage for all of the upgrades implemented. Additional policies may be a good idea if you've invested in any expensive purchases along with the renovation, such as new artwork, antique furniture, or a state-of-the-art sound system. Bear in mind that certain property updates may help you save some money, too. Stronger locks or doors, fire alarms or carbon monoxide detectors, and security systems can often mean a discount on homeowners insurance; discuss all of these features with your agent.

Since 1891, Barron Mutual Insurance Company has been serving property owners in the Bayfield, Burnett, Washburn, Sawyer, Polk, Barron, Rusk, and Dunn counties of Wisconsin. They will help you find the perfect coverage for both the remodeling process and the completed renovation. In addition to homeowners insurance, they provide farm, rental, and seasonal property policies. Schedule a consultation today by calling (715) 537-5141 or visiting their website.