From planning and budgeting to design and construction, a home renovation involves several steps. One aspect that often gets overlooked during the process is how a renovation may impact your home insurance. Some improvements can raise your insurance costs while others may earn you discounts. Here are some common renovations that typically affect home insurance rates.

What Renovations Can Impact Insurance?

1. A Home Addition

In most cases, an addition gives you more livable space, which boosts property value. Another bedroom, an expanded living room or kitchen, a porch or sunroom, and a new garage are just a few popular examples of additions. You should update your home insurance policy to reflect this new uptick in value by increasing the coverage limit.

2. A Pool

A pool offers plenty of opportunities for fun, relaxation, and exercise. However, it also significantly increases risk. A pool on your property means a greater likelihood of an accident or injury, thereby amplifying your potential liability.

An insurance policy will need to be amended to include a pool, and the coverage limits will have to be substantially increased to protect against this greater level of risk. Installing certain features, like a pool cover or pool alarm system, may provide insurance discounts to offset your costs.

3. A New Roof

Before installing a new roof, always check your home insurance policy. Most policies will cover some or all of the installation costs, especially if the existing roof is past a certain age or if it has recently experienced damage from a covered event, like inclement weather or a fire. Also, a new roof can sometimes bring insurance premiums down, as it can be seen as a protective measure that lowers your overall risk.

When you need home insurance for an improvement on your property, contact Texas Brand Insurance. Serving the Hubbard, TX, area for more than 35 years, they offer home, auto, farm, and commercial insurance solutions. They’ll help you find the policies that meet your needs and goals. Call (254) 576-1180 or visit them online to schedule a free consultation with an insurance agent.