Home Changes That Affect Insurance

Dated: 08/31/2017

Views: 90

Image title

Homes often grow and change alongside the people living in them. If you've added expensive furnishings or made substantial upgrades, it's important to re-evaluate your homeowners insurance and make sure your policy reflects those changes. Here are four instances when it may be beneficial to review and adjust your coverage.

Remodeling or Renovation Work
Home improvement projects typically increase the value of your home, which usually calls for more coverage. But that doesn't necessarily mean your insurance rates will automatically increase. In fact, some projects, like adding a new roof, may help you save on your monthly home insurance premiums. Just be sure to notify your provider before any work begins.

Adding a Pool or an Outdoor Trampoline
Because these fun home features come with increased risk of injury, they're labeled an attractive nuisance. Upping your liability insurance can help keep you protected if there's ever an accident on your property and a subsequent lawsuit.

Acquiring New Valuables
Whether you inherit them or purchase them, expensive goods such as jewelry, art, rugs and antiques should be added to your policy. Increasing your coverage is the only way to safeguard them in the event of damage or theft.

Starting a Home Business
Many home-based business owners don't realize they have little, if any, coverage from a homeowners or renters insurance policy. Since a new home business likely means purchasing new technology and expensive equipment, you may need to get additional protection.

You worked hard for your home. Secure your belongings by updating your coverage to match your circumstances.

Blog author image

Chris & Carrie Carlson

Residing in Hampton Roads since 1985, Senior Real Estate Specialist -SRESĀ® Chris Carlson - recipient of multiple HRRA Circle of Excellence" awards, and USAF veteran. It's not about making the sale or....

Latest Blog Posts

Bro's Fish Tacos To Set Up Permanent Shop in Virginia Beach

Virginia Beach residents will be getting a new addition to the local food landscape. The very popular Bro's Fish Tacos food truck will soon be parking its wheels in a more permanent spot. The

Read More

Dispelling Refinancing Myths

“Refinancing” is a scary word for many people, but that shouldn’t be the case for you. For many homeowners, refinancing can not only lower your monthly payments and help with your

Read More

Priority Tasks For Your Move In

Moving into a new home is an exciting time, and you’re probably daydreaming about decor and paint schemes and new furniture. But before you get into the fun stuff, there are some basics you

Read More

Upsizing Your Home

Unfortunately, our homes don’t always grow with us. What may have initially worked fine for a single person, a young couple’s starter home, or a family with a newborn can quickly become

Read More