Home Changes That Affect Insurance

Dated: 08/30/2017

Views: 1854




Home Changes That Affect Insurance


Homes often grow and change alongside the people living in them. If you've added expensive furnishings or made substantial upgrades, it's important to re-evaluate your homeowners insurance and make sure your policy reflects those changes. Here are four instances when it may be beneficial to review and adjust your coverage.

Remodeling or Renovation Work
Home improvement projects typically increase the value of your home, which usually calls for more coverage. But that doesn't necessarily mean your insurance rates will automatically increase. In fact, some projects, like adding a new roof, may help you save on your monthly home insurance premiums. Just be sure to notify your provider before any work begins.

Adding a Pool or an Outdoor Trampoline
Because these fun home features come with increased risk of injury, they're labeled an attractive nuisance. Upping your liability insurance can help keep you protected if there's ever an accident on your property and a subsequent lawsuit.

Acquiring New Valuables
Whether you inherit them or purchase them, expensive goods such as jewelry, art, rugs and antiques should be added to your policy. Increasing your coverage is the only way to safeguard them in the event of damage or theft.

Starting a Home Business
Many home-based business owners don't realize they have little, if any, coverage from a homeowners or renters insurance policy. Since a new home business likely means purchasing new technology and expensive equipment, you may need to get additional protection.

You worked hard for your home. Secure your belongings by updating your coverage to match your circumstances.


Thanks for reading our BLOG. We look forward to connecting with you soon! Achieve your Dream...With the Wichita Home Team!

Blog author image

Kirk Short

I am a second generation REALTOR in the Wichita, KS area with over 19 years of Real Estate Experience. As a former Owner of RE/MAX Realty Professionals and now associated with Keller Willams Signatur....

Want to Advertise on this Site?

Latest Blog Posts

Aug 11 2019 67037 1

Real estate activity in the Wichita, KS metro area.July Real estate snapshot:Even in a hot market not every listing sells.Last month 104 listing expiredHowever:523 homes closed in the Wichita metro

Read More

Aug 6 2019 67037 1

Mortgage Interest DeductionLimited to $750,000 under the new lawMortgage Interest Deduction allows homeowners to reduce their taxable income by deducting the amount paid in mortgage interest. This

Read More

Jul 8 2019 67037 2

Interest rates for July, 2019Interest rates continue to hold at historic low levels.Lenders are starting to ease up a bit on qualifying by borrowers.Rate quotes for 7-8-195/1 Adjustable rates 

Read More

Jul 8 2019 67037 1

FHA Loan Rates A Federal Housing Administration (FHA) loan is a popular choice for first-time buyers and people with a limited budget. Start by comparing the latest FHA interest rates here. FHA

Read More