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How does remodeling my home affect my insurance? | Michigan home, condo insurance

posted Aug 4, 2016, 11:15 AM by Jason Grubbs   [ updated Sep 14, 2016, 11:35 AM ]
Imagine this common scenario: You purchase a home with a kitchen that has funky looking, outdated laminate counters and generic cabinets.  You then spend a significant amount on remodeling - upgrading to granite countertops, a farmhouse sink, and custom cabinets.
Remodeling & Home Insurance

In the event of a loss would your home insurance pay the full cost to replace your renovated kitchen?

The answer could very well be no - the reason being, more often than not, people fail to update their home insurance when they complete home renovations.

Anytime you're preparing for a significant remodeling project in your home - whether updating a kitchen, adding a three-season porch, or adding more living space - you should have a conversation with your insurance agent.

A good agent will discuss the scope of work being completed, determine whether the improvements will impact the cost to rebuild your home, suggest coverage changes, and provide information on how those recommendations will affect your insurance costs.

Most home insurance policies are designed to provide replacement cost protection - insuring you will have sufficient money available to rebuild your home, in the event of a loss, with the same kind and quality of materials.  Updating your policy when making improvements is an important step to make certain you enjoy peace of mind protection for one of your biggest investments - your home.
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