A renovation will make your home feel like new. It’ll impress your guests and increase the value of your property. However, before you decide on what changes to make, contact your insurance agency. By keeping them updated with the renovations you’re making, you will ensure your improvements are covered if you ever file a claim.

What Should You Do Before Renovating?

Don’t break ground before contacting your insurance agency and telling them what changes you’re planning on making. Depending on your plan, you’ll need to update your homeowner’s insurance plan. You may also need to obtain other forms of insurance to protect your property during and after the renovations.

A builder’s risk policy will protect your home from damage, theft of building and decorating materials, and vandalism.

Before the contractor gets to work, ask for a copy of their commercial business, general liability, and workers’ compensation insurance policies. If they have these documents, you’ll be protected from lawsuits in case of any injuries during the renovation.

What Should You Do After Renovating?

Take pictures of your property before, during, and after the renovation. Keep copies of all receipts of materials purchased for the project.

Once the construction is complete, update your insurance agency with the changes that were made. Provide them with copies of the records and receipts you collected. Your home’s value has likely increased, and your insurance may need to be expanded to protect your investment.

For example, you decided to build a pool. While hosting guests, one slips and injures themselves. You wouldn't be covered for the accident if your insurance company didn’t know you had a pool.

Sometimes the renovations are the result of a life change, which can alter your premiums. For instance, a new roof will lower your rates, while establishing a home business will increase it slightly.

Inquire about discounts when discussing your renovations with your insurance agency. Making your home safer by installing security and sprinkler systems, deadbolt locks, and smoke detectors will decrease your premiums.

When you have renovations completed, you want an insurance agency that will protect your investment and make your needs a priority. A Better Choice Insurance Agency has over 25 years of experience in providing a variety of coverage options. As an independent agency, they’ll get you competitive rates with the best companies. If you’re in the Concord, NC, area, reach out to their professionals at (704) 782-2073. For more information on their services, including auto insurance and Medicare supplements, visit their website.