As much as you love your house, the existing floor plan might not fit your family’s needs or accommodate the way you utilize the space. Home renovations can improve your house and customize it to suit your needs. However, though the renovations might add value to your property and make your house more enjoyable, they can also impact your homeowners insurance policy. 

3 Home Renovations That Impact Your Homeowners Insurance

1. Adding a Backyard Pool

While installing a pool might be the perfect way to help you beat the summer heat, it’s not without its downsides. Insurance companies often associate backyard pools with increased liability, meaning you’re more likely to file a claim against the policy. If you choose to install a pool, you can expect your home insurance premium to increase. 

2. Building a New Room

A large part of your insurance premium is determined by the overall square footage of your home. If you’re adding to the existing structure and increasing the amount of square footage, you’ll likely need to improve your homeowners policy. The larger your home, the more it would cost to rebuild if the structure is damaged or destroyed. Increasing your policy when you have the renovation planned will ensure you have the coverage you need if you ever file a claim.

3. Replacing Your Roof

The most common cause of home insurance claims is due to damaged roofing. By replacing old materials with a new roofing system, you’re decreasing the risk of needing to file a claim with your insurance provider. The provider rewards you for decreasing your risk by lowering your monthly premiums.

Barron Mutual Insurance Company in northwest Wisconsin has helped residents find the best homeowners insurance for their families since 1891. Their experienced agents will work with you to assess your coverage needs and find the perfect policy, whether you’re looking to protect your home, farm, or rental property. Learn more about their services by visiting their website, and call (715) 537-5141 to speak with a member of their team.