Home Improvement and Your Home Owners Insurance

Home improvement, also known as remodeling or renovation, is any type of work that changes the structure and/or decor of a home. Some examples include adding a bathroom or kitchen, redecorating rooms, constructing an addition or gazebo, painting, and any other activity that improves the property.

Some home improvement projects are purely cosmetic, but others have a greater impact on your quality of life. If you’re planning to sell your house in the future, it makes sense to renovate with resale value in mind. But you should always consider your comfort level and whether the project is worthwhile before starting.

If you decide to hire contractors, it’s important to select a reputable company that is licensed and insured. You should ask for references, check out their credentials, and get a written contract with the contractor that includes an itemized list of all costs and warranties.

Choosing the right home improvements can have major financial consequences for your homeowners insurance. It can lower your premium, reduce the chance of future claims, and increase the resale value of your property. If you’re unsure of the best options for your home, consult with a local real estate agent about specific home improvements that can boost resale value and make your house more appealing to potential buyers. If you’re considering a large-scale renovation, it’s essential to carefully consider your budget and whether the project will pay off when you’re ready to sell. A sparkling bathroom overhaul or a well-appointed kitchen may boost your home’s marketability, but high-end fixtures and other upgrades can quickly add up.