1. Updating or Fixing a Roof
As any work on your roof can be very expensive, but can certainly increase your property value. Call us at (651) 739-9684 and we can discuss with you whether you qualify for a discount and explain how to qualify. Many companies offer a discount when you use stronger materials that are more resistant to weather damage, and are more leak resistant. The increase in property value may also increase the insurance coverage that you need.
2. Finishing the Basement
If you are considering finishing your basement, you want to contact us or your insurance agent to discuss what changes will need to be made to your current coverage. Because of it being the lowest floor in your home, you may also want to ask about flooding as most policies do not cover that type of damage. You can also discuss ways in which you can prevent water or flood damage like installing a sump pump. Finishing you basement is great way to add living square footage to you home and increase it’s value.
3. Upgrading the Kitchen
Renovating the kitchen can significantly increase the value of your home, especially if you switch to higher-quality counter tops, appliances and new flooring. You should contact your agent to see if you need to increase your insurance coverage.
If your contractor upgrades the plumbing or electrical wiring as part of the renovation, ask your homeowners insurance agent if you qualify for a discount or if your coverage needs to be adjusted. These upgrades can reduce the chance of flooding water damage and fire, so check if your insurance company has discounts that can help to reduce your premium.
4. Adding a Deck
A new deck is another improvement that can add value but also risk, especially if the deck is attached to a second story or higher. You should let your agent know that you’ve added a deck, so he or she can adjust your policy as necessary.
Give us a call at (651) 739-9684 anytime you are considering doing any sort of renovations on you home to make sure you are getting any discounts, as well as any changes that need to be done on your insurance coverage.