As your Commerce, GA, home ages, you may decide to renovate it. Renovations can vary from minor repairs to major changes. Some changes can significantly affect our home’s value, which is why you should report them to your home insurance carrier. Commerce Insurance Agency can guide you through documenting these changes to ensure the most appropriate coverage.

What You Don’t Need To Report

Minor cosmetic changes are just that. They make your home look nicer, but they don’t significantly affect its value. Small changes such as painting rooms, replacing light fixtures, and installing new carpeting fall into this category. The same applies to minor repairs, such as replacing switches or adding outlets to a room.

Projects That Require Reporting

Report any work that requires major structural changes. These include room additions, garage conversions, or basement/attic finishing. If you significantly upgrade your kitchen or bathroom using luxury materials, you also need to ensure your carrier is aware of the changes. Major upgrades to plumbing, electrical, or HVAC systems also qualify, as do additions of external structures such as decks, sheds, or guest houses.

Why Report Renovations?

Major renovations and building projects can affect your home’s value. If your policy is based on prerenovation values, you won’t have sufficient overage and may be considerably underinsured if a total loss occurs. When you add features such as swimming pools, hot tubs, or home gyms, you also increase the risk of injury. These features require higher liability limits.

On the other hand, if you place a new roof on your home or install safety equipment, your premiums could decrease.

Maintain an appropriate level of home insurance protection by consulting Commerce Insurance Agency. We’re currently serving Commerce, GA.