Home Improvement and Home Insurance

Home improvement involves any repair, renovation, alteration or addition to the interior and exterior of a house. It also includes the construction, erection or replacement of driveways, swimming pools, patios, decks, fencing and porches. Home improvement may include the installation of kitchen appliances, plumbing fixtures and lighting, bathroom fixtures and flooring, and roofing.

Homeowners often take on home improvement projects with the goal of increasing their property’s resale value. But not all improvements add value, and some actually decrease a home’s resale appeal.

For example, many homeowners invest in top-of-the-line appliances and imported marble countertops to make their homes stand out on the market. But these upgrades can actually cost you when it comes time to sell, because potential buyers may be put off by the high price tag. Instead, focus on mid-range upgrades that will appeal to a wide range of buyers.

Other popular home improvements include adding a deck or patio, replacing old windows and doors, painting the cabinets, installing new lights and lamps, and updating the paint color on the walls and ceilings. If you’re planning to make any of these upgrades, talk to a home insurance professional about what types of coverage you might need.

Finally, remember to update your home insurance when you’ve finished your renovations. As the value of your home increases, your current policy might not offer enough coverage. Talk to your agent about changing your home insurance policy, or getting a new one altogether.