Unless you’ve had your home totally custom built, there are always things you want to improve in order to create that “dream home” you’ve always wanted. You may want to redo the kitchen to create that perfect cooking environment, to put a spa in the bathroom or to even make a great game room out of the unused area in your basement. You’ll definitely be a lot happier and get a lot more satisfaction out of your house when remodeling your home like this. However, there’s one thing you’ll want to keep in mind when you do.
Let your homeowners insurance agent know what you have planned and definitely let them know when the job is done. While you may be remodeling your home for comfort and usability, you may actually be adding significant value to your home which won’t be covered by your existing homeowner’s policy. When your policy is written, it is based on the existing value of your home and when you exceed that, the additional value isn’t covered and won’t be paid out if something happens. Working with an insurance agent like the Phocus Company in the Phoenix AZ area will enable you to remodel your home with complete confidence.
