How Renovations Affect a Home Insurance Policy

The Amarillo, TX real estate market is both strong and stable, offering multiple opportunities for homeowners who want to sell a home and home buyers who are looking for a new house to purchase. Renovating a home, either right before a sale or after it’s been purchased, can increase the home’s value and improve a homeowner’s quality of life. At the same time, it can also cause insurance problems if not done properly.

How Renovations Affect Home Insurance Coverage

Home insurance agencies cover the current value and structure of the home from the time a policyholder first purchases coverage. Additions such as an attached garage, porch, deck, etc., won’t be covered by an existing policy unless you call your insurance agency to let them know about the new structures. Furthermore, if your renovations require changes to your home’s electrical system, you’ll need to hire a licensed electrician to make any necessary adjustments to the home’s wiring. Otherwise, your insurer could cancel coverage as DIY electrical work increases the chances of the house catching on fire.

Your insurance agency will also want to know about changes that affect home liability coverage. Additions such as a pool or stairs to a new porch increase the risk of accidents, and you could be denied compensation if your insurer wasn’t aware of new risks on the property. 

Need More Information? West Texas Insurance Agency Is Here To Help

West Texas Insurance Agency is familiar with the coverage needs of homeowners in and around Amarillo, TX. We take pride in helping each person we work with find the best home insurance policy for their specific situation. Call us to learn more about your options and get professional help with picking coverage.