Home Insurance After Renovations: Impact on Premiums & Coverage

LOS ANGELES - Feb. 25, 2025 - PRLog -- For the full article and list of upgrades go to link at the end.

Tell your insurance company about any changes you plan to make so you're not in for any surprises if you file a claim. You may need renovation insurance, too, in case something goes wrong during construction. Here's everything you need to know about home insurance for renovations.

Do home renovations impact home insurance rates?
In some cases, your home insurance after renovation may increase if the upgrades increase the rebuilding cost of your home and your personal property coverage if you buy new appliances. However, your rate may stay the same and in some cases, your home insurance rate may decrease because of certain updates or improvements.

Swimming Pools and Trampolines
Your rate may increase if you add something to your home that increases risk, like a swimming pool or trampoline. On average, premiums may increase by $50 to $75 because most insurers will require that you increase your bodily injury liability coverage. The pool will also increase the home value, and it may be covered by insurance as an attached or detached structure.

Home Office Upgrades
If you are building a home office, there are few things to consider. First, make sure that business-related property damage is not excluded in your homeowners insurance policy. Next, find out how much is covered. Most home insurance policies typically cover up to $2,500, for home office repairs unless you...

Full article: https://smartfinancial.com/home-insurance-after-renovations