Do you need to tell your insurance company when you renovate your home? Homeowners often ask this question, but there isn’t necessarily one answer. Today, we’ll talk more about renovations and home insurance in Salt Lake City to help you understand when you should and shouldn’t inform your insurance provider about renovations.
Home Insurance and Renovations
The short answer is it depends. As a general rule of thumb, it’s always best to give your insurance company a heads-up when making significant changes to your home. But what counts as a substantial change?
Here are some examples:
- Adding a new room
- Installing a swimming pool
- Upgrading your kitchen
- Updating your pipework or electrical systems
- Major landscaping changes
Essentially, if the renovation affects the structure of your home or significantly increases its value, it’s considered a significant change. You should also notify your insurance company if you plan on temporarily moving out during renovations.
Why is it important to inform your insurance company?
By letting them know about any significant changes to your home, you can be confident your coverage is up to date and reflects the current state of your home. This can prevent any potential issues or disputes in case of a claim.
One of the other big reasons your insurance company needs to know about significant changes is they may necessitate additional coverage. Adding a pool is a great example.
If you’re just doing minor cosmetic updates, like painting or changing a few fixtures, you probably don’t need to inform your insurance company. These changes won’t significantly impact the structure or value of your home.
But if you’re ever unsure whether a renovation is significant enough to inform your insurance company, err on the side of caution and call them.
What happens if you don’t tell your insurance company?
Failure to inform your insurance company about major renovations could result in issues with coverage in the event of a claim. If your insurance company finds out about the renovations after the fact, it may deny coverage or reduce the payout amount. This could leave you with a significant financial burden and potentially even legal issues.
Call ASA Insurance to Discuss Home Insurance and Renovations
At ASA Insurance, we are happy to answer any questions you may have and review your policy to ensure proper coverage for your home. Call us today, and let us help you protect your biggest investment.
