If you are thinking about renovating your home in Ohio, you will be thinking about the return on your investment, and improving the value of your home. What you may not consider is that renovations should be discussed with your home insurance company.
At Tri C Insurance Group serving Wooster, OH, we want Ohio residents to be protected by your home insurance for all scenarios. You should enjoy your home as you please, you just need to make a phone call before you start that reno.
The Material Change in Home Insurance
Most home insurance policies have a Material Change clause, that notes your home insurance policy could be voided if any changes to the home come with a risk attached. If you are changing your curtains, you don’t need to call them.
If you are replacing a wall, a roof, or having a big demo, you will need to call them. Whenever there is a material change to your home that is not already protected by your home insurance, you need to discuss this with your insurance company, or you could lose your home insurance.
What Isn’t Covered With Home Insurance
When you are having renovations, there are a number of problems that could come up. There may be damage caused that you weren’t expecting that isn’t covered. There may be damage or injury that happens following the renovations that are not covered.
You may also be adding a value to your home that is not covered by your existing home insurance policy. That is often the biggest issue that the insurance company will have. If you are adding $50,000 in value to your home, and something happens without the additional coverage, you are not going to get the claim response you need.
Use Contractors With Insurance
The easiest way to have a safe renovation is to ensure that your workers are insured. You will still need to contact your home insurance company to let them know you are having renovations conducted.
Get a Quote
When you are doing home improvements on your home, contact your home insurance policy to make sure you have coverage before, during, and after the renovations. At Tri C Insurance Group serving Wooster, OH, call us for a quote if you need home insurance, or if you want to make changes to your existing policy.