Home insurance guards your property against damage to its structure and contents due to fire, storm, falling objects, vandalism, and more. It also offers personal liability coverage that pays for repairs and medical treatments if someone in your household should accidentally injure someone or damage their property. It's an important risk management tool, but many people forget about their homeowners policy when performing home improvements. The information below reveals how various remodeling projects might affect your home insurance needs.

How Home Improvement Projects Affect Your Homeowners Insurance Needs

1. Room Addition

A room addition increases the value and square footage of your home. This means it would cost more to rebuild from a total loss, so you need to increase your dwelling coverage to account for the difference.

2. New Pool

A pool is an attractive nuisance, which means it draws the attention of neighborhood kids who might try to use it while you are away. This—and the fact that pool patios are slippery—increases the risk of someone being injured, and you would be liable for any injuries even if you didn't give permission. You'll need to up your liability coverage to compensate.

3. New Roof

A new roof provides better protection of the house and its contents, and it is less likely to suffer damage due to high winds. Therefore, you may qualify for a discount on your dwelling coverage premiums. You should discuss this with your agent before your remodel.

4. New Plumbing or Electrical

Similarly, new plumbing and electrical features mean your home is at a lower risk of an electrical fire or water damage from a broken pipe. Because it reduces your insurer's risk of this type of claims payout, you may qualify for a discount.

Don't neglect your changing coverage needs after a remodel. To discuss your homeowners insurance needs with an experienced agent, contact Ohio Insurance Center Agency in Cincinnati, OH. They have been serving clients throughout the Tri-State area for more than 40 years. They also specialize in SR-22, high-risk auto, and motorcycle insurance. Message them for more information via their website or call  (513) 522-6300 to request a free insurance quote today.