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If you’re planning on completing home renovations, make sure you update your home insurance

It’s important for homeowners to frequently check and update their home insurance policies in order to protect themselves from having insufficient coverage when disaster strikes. This is particularly important when it comes to home renovations.

Homeowners can find themselves in hot water if they do not inform their insurer of renovations, as changes to the property could render the policy void. Renovations also provide the opportunity to make additional improvements that can save homeowners some money on their home insurance in the long run. Items like a sewer backup valve or an alarm system may easily be installed if other work is being completed. In addition, it may be cheaper for you to make these types of money-saving additions when renovations are ongoing.

Even if a home isn’t undergoing a major overhaul, it’s still important to review policies annually to ensure they match the homeowner’s needs. For an informative article that was recently featured on CTV, click here.

Be sure to contact your insurance broker or company agent for more information on home renovations and how they can affect your policy.