Over the past few years, many homeowners have launched home renovations. While your homeowners insurance may protect your home against covered losses during the renovation itself, it is important that you reach out to us with details of your renovations to confirm if changes need to be made to your policy.  An extensive remodeling project will require changes to your coverage.


Here’s how to think about your insurance while planning your home renovation.


How extensive is the renovation?

Renovations that add value to your home may leave you with coverage that fits your previous home, but that doesn’t adequately cover the renovated one. Renovations that can call for more coverage include:

  • Home additions,
  • Kitchen overhauls,
  • Roof replacements,
  • Swimming pool installations.

Some of these renovations may increase the cost to rebuild your home in the event of a loss and require adjustments to your limits of coverage.


Do I need insurance for the renovation itself?

In most cases, yes.  There may be limitations in coverage that are applied if your insurance company is unaware of the renovation project.


In addition, not all homeowners’ policies cover the renovation process itself. Special forms of coverage may be a better fit. These include:


  • Dwelling under construction coverage. This insurance addresses the particular risks that come with a construction or renovation project.
  • Vacant or unoccupied homeowners insurance. If you’re planning to move out during the renovations, this coverage addresses the specific risks of working on a house that’s not being lived in.


Increasing the liability coverage limits under your existing program can also help protect you against personal liability risks, including injury-related losses.


When should you update your homeowners insurance policy? 

When you’re planning a renovation, you may find yourself buried in quotes and paperwork from contractors and other resources. Carve out a moment to talk to your insurance agent or broker before the renovations begin.  Your agent or broker can help you understand what coverage you might need during and after the renovation, so you can be certain you have the right protection in place.


Need assistance?

At Odell Studner, our insurance experts can help you secure the coverage you need at every phase of a home renovation process. Contact us today to learn more.