Home Renovations in Joplin & How They Impact Your Insurance

Thinking about updating your home in Joplin? A kitchen remodel, a new room or a roof upgrade can be exciting projects that also affect your home insurance coverage. At The Insurancenter, we explain how home improvements may influence your policy and premiums.

How Renovations Can Affect Your Home Insurance

Renovations can change both your home’s value and its risk profile. Here are a few ways they may affect your insurance:

• Increased replacement cost: Major upgrades, like finishing a basement or expanding your living space, can increase your home’s replacement value. This may mean you need higher limits.

• Liability changes: Adding features such as a swimming pool or deck can increase liability risks. Your policy may need adjustments if someone is injured on your property.

• Discounts for safety improvements: Some projects, such as installing a new roof, updating electrical systems or adding security features, can reduce the risk of damage or loss. These improvements may qualify you for premium discounts.

• Temporary risks during construction: When your home is under construction, you may face additional risks like theft or damage. Your insurer can review whether temporary coverage changes may be needed.  

What Types of Renovations Should You Report?

Not every project may call for a policy change, but you should notify your insurer about:

• Room additions or major remodels

• Kitchen or bathroom upgrades

• Roof replacements

• Installing a pool, hot tub or trampoline

• Significant electrical or plumbing updates

Contact Us Today

The Insurancenter can review your policy and explain how your project may change your coverage. Visit our contact page to learn more.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.