Home renovations give your living space a new look. While it can be easy to get caught up in the design details, it's also important to keep track of how these renovations may affect the value of your home. If your current insurance plan does not cover the added value, it may leave you open to unwanted hassles down the line. Below are some home renovation projects that may benefit from a consultation with your insurance company.

Kitchens

If your insurance company has you covered for a vinyl countertop and vinyl backsplash, your policy might not be enough if you upgraded your kitchen to include granite countertops, new cabinets, or a marble backsplash. However, since a kitchen renovation usually allows easy access to plumbing and electricals, updating those components can lower your insurance premiums for older homes.

A New Roof

Updating your roofing not only provides both functional and aesthetic benefits, but it may also help lower your insurance premiums. Your roof is often the most important contributing factor to the rate of your insurance policy. Most damage claims are in direct result with a compromised roof structure during the event of snow, hail, rain, and heavy wind.

The HVAC System

While most renovations do affect your insurance rates, updating your HVAC system will help you in the long run. Older and outdated units are prone to being both electrical and health hazards. By updating to a new HVAC system, not only will you save money on your electricity bills, but you will also enjoy lower insurance rates due to lower risks with your new unit. 

If you would like to learn how you’re remodeling venture will affect your insurance rates, reach out to Somers Agency LLC. Servicing Lorain County in Ohio, they provide personalized insurance premiums to help people save money when it comes to home renovation projects and more. Give them a call at (440) 324-3447 or visit them online today to learn how they will save you money when it comes to insurance coverage.