Renovations can turn a house into your dream home, giving you the features and luxuries you’ve always wanted. However, along with affecting your quality of life, some improvements can also impact your homeowners insurance rates. To help you prepare, below are some common projects that might raise or lower your coverage costs.

Which Home Improvements Impact Insurance Rates?

1. Adding a Pool

A private pool is the ultimate luxury, providing countless afternoons of summer fun. However, it also introduces the risk of accidents for which you might be held liable.

Insurance carriers will offset the added risk by raising your premiums, but adding fences, locks, and other safety features around the structure will minimize the impact on your homeowners insurance.

2. Replacing the Roof

Replacing a damaged or old roof will protect your belongings from the elements and may even lower your premiums. Leaking roofs cause extensive water damage, so insurance companies usually offer discounts to customers who install new roofing.

To maximize these savings, choose wind- and impact-resistant products, such as metal.

3. Increasing the Square Footage

Adding a new structure, finishing the basement, or converting the attic makes your home more comfortable, and will usually bump up your property value. While higher resale value is desirable, it also increases the cost of replacing a home that’s seriously damaged or destroyed in a covered event.

If you’re increasing the size of your living space, include safety devices like security alarms to minimize the effect on your premiums.
 

Homeowners insurance protects one of your most valuable assets, so turn to Mazzola Insurance in Rochester, NY, to find the right policy. They work with a national network of providers, which gives them an almost endless selection of high-quality policies to choose from. They’ll help you find an option at a rate you can afford. Get a personalized quote on their website or call (585) 266-7130 to discuss your requirements.