Home renovations can not only make your home a more useful and pleasant environment but can add value to your Wheat Ridge, CO property. Adding a backyard patio or enlarging a bedroom will increase living space, making your home a more comfortable environment. Renovating a bathroom or kitchen can greatly enhance your home’s appearance and function.

Before beginning any renovation projects, however, talk to your CO Insurance Specialist agent to see how they will affect your insurance coverage. You may need to update your policy to protect these projects against damage or loss. Here are a few reasons why you may need to alter your coverage when making major improvements to your home.

Insurance Limits

The limits on your current insurance policy may be insufficient to cover the repair or replacement costs of major renovations in the event of fire, flood or storm damage. By extending your current limits or obtaining additional insurance coverage, you can ensure these investments are protected against any eventuality.

If you’ve purchased new furniture or equipment to go with your renovations, such as new kitchen appliances or patio furniture, you may need to raise your property damage limits to protect these items from unforeseen damage or loss.

Increase in Property Value

Major home renovations such as kitchen or bathroom remodeling could increase the value of your property, making your current policy insufficient to cover the replacement cost of your home. You may need to update your policy to offset this increase in value. As one of your most valuable investments, your home deserves to be well protected against any eventuality.   

By discussing your insurance options with a CO Insurance Specialist agent in Wheat Ridge, CO, you can get a better idea of the coverage you need to fully protect your home and personal assets.