A homeowners insurance policy may cover home renovations, repairs, upgrades - based on your policy coverage.
Before you begin home renovations, contact your insurance company to understand your coverage limits. Taking steps to have the right insurance in place before beginning renovations will make the process easier. Home insurance coverage for insured losses, such as theft, water damage, and vandalism may be typically limited or excluded during renovations, including do-it-yourself jobs. Your coverage may be limited to a certain extent throughout the course of renovations, so understanding your coverage and policy provides clarity on what is and isn’t covered.
Your home insurance is designed to cover your home and its contents in the event of an insured loss. Anything that affects your home’s replacement value – what it would cost to rebuild it with materials of the same quality, in the event that it is destroyed – affects your premium and the amount for which you are covered. As a homeowner, you have a contractual obligation to report any changes made to your property – failure to do so may affect coverage, in the event of a loss.
Our team at JEWELL RADIMISIS JORGE LLP. recommends always reading the fine print of your home insurance policy.
If you or a loved one has been involved in an accident or denied insurance benefits, please contact us for a free initial consultation.