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A remodeling project is often the result of years of hard work and saving, bringing joy upon completion. However, remodeling not only increases risk during the process but also generally enhances your home’s value. Therefore, it’s crucial to protect the value of the work and your home overall. The Martin Insurance Team, serving the Evergreen Park, IL area, will work with you to provide insurance coverage to protect your family throughout your time in your home.
Updating Your Insurance Before Remodeling
While home insurance policies generally provide basic protection during the remodeling process, you should consider supplementing your policy before starting the work due to the increased likelihood of accidents. Some home insurance policies require you to notify the agent before the job begins, and failing to do so can affect your coverage. Since remodeling brings certain hazards and injury risks, you should enhance your home insurance policy or add umbrella insurance.
After the work is completed, you may have more square footage, enhanced appliances and fixtures, or other changes that increase your home’s value. It’s important to update your policy to reflect those changes, ensuring everything is properly insured.
Some home additions, like pools and hot tubs, increase risks and must be identified on your policy. Conversely, updating your home’s plumbing, HVAC, and wiring can lower your risks and premiums.
Regardless of your planned changes, speak with your agent to ensure your home has the right coverage before, during, and after the process.
Working with the Martin Insurance Team
Your home is likely one of your most significant investments and should be protected against unforeseen events. Let the Martin Insurance Team, serving the Evergreen Park, IL area, assist with your insurance needs. Call (708) 330-4404 today to discuss your options.
