Home Remodeling...? Don't Forget to Call Your Insurance Provider, too!
Fundamentally, transitional style is all about balancing traditional and contemporary elements to achieve an elegant style that doesn’t feel too stuffy or minimalist.
Home remodeling can be exciting and valuable to home owners. Remodeling your bathroom or your kitchen is sure to increase the value of your home, while at the same time giving you the opportunity to put your own personal style into your home.
Doing these types of home improvement can mean that your property has significantly changed and could result in your current homeowners insurance not being up to par for coverage in case of a claim.
Did you know that some upgrades to your home can also lead to a lower premium, such as, new forms of electronic security systems, better exterior lighting, and safer doors? You certainly don’t want to miss out on any potential savings. That’s why it is so important to be sure that you tell your insurance company about your upcoming home improvements to make sure you have the right coverage to reflect all those changes to your property. Even if you are remodeling a small bathroom, the average cost for most homeowners will be between *$6,000 and $10,000 on a bathroom remodel, with the average falling near $8,800 for a small bathroom remodeling nationally. Different parts of the remodel can affect your insurance needs in different ways:
The grade of the tile, wood, and fixtures used in the kitchen or bathroom project can also add a lot of value. However, the cost to replace them can change your insurance needs. Make sure to discuss the materials you’re using with your insurer in order for them to adjust your coverage. If you use top-of-the-line materials in your upgrade you'll want to have proof. Make sure to hold onto your receipts for any high-end materials purchased for the project.
When you are planning an upgrade to a bathroom or kitchen the plumbing is always important. Did you know that old plumbing is one of the main causes for home insurance claims? Make sure you have an experienced plumber to do all the plumbing upgrades to bring them up to current code. Hiring a reputable and experienced contractor will help you to understand what is required to be up to code.
It is important to have your plumbing inspected, because plumbing issues cannot wait. President of AC Remodeling, Alex Reyes, notes, “Ignoring early signs of water damage in your bathroom can be detrimental,” he points out. “A water damaged foundation is expensive to repair and can lead to mold growth, rotting wood and structural damage. It must be treated promptly to avoid further damage.”
We highly recommend that you stay away from doing a complete bathroom renovation as a do it yourself (DIY). The requirement for permits on a DIY job is in place for multiple reasons, but is a hassle to acquire. The main reason is to make sure the work done won't result in code or legal problems. This can cost more than any permit. Another good reason is that a bad DIY plumbing job can result in denial should you make a claim down the line. Permits are often needed by homeowner’s insurers in order to accurately cover the upgrades. If you install a new shower system in your bathroom but don't get a permit, the chances are good that your insurer will deny any claims on it. This isn’t even the worst case scenario. Lack of a permit can lead to policy cancellation, and even charges of insurance fraud for failing to disclose.
New lighting in the bathroom can mean electrical work. Poor wiring is another major reason for insurance claims. Also, power resources for homes can change over a ten year period. This is an excellent time to make sure that your electrical system is upgraded and gives yourself peace of mind. Upgrading your electrical work is a great way to lower your premiums as well, so be sure to let your insurer know of any such work done.
Taking the time to hire a reputable contractor for your bathroom or kitchen needs is essential because you want to make sure all the improvements are done correctly, and able to be covered by your homeowner’s insurance policy. Alex Reyes’ employees are masterclass perfectionists who will make sure your bathroom or kitchen renovations are of top-notch quality and able to be approved by your homeowner’s insurance company. With all the important aspects of home improvement mentioned earlier, there is too much that can go wrong if you plan to renovate the bathroom or kitchen on your own.
*Resource: ImproveNet.com most homeowners spend between $6,000 and $10,000 on a bathroom remodel, with the average bathroom remodeling cost around $8,800.
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