Home improvement and home insurance

Most home improvement projects are undertaken for similar reasons – to enhance the home itself and/or to increase the value of the home. That said, in order to figure out if a specific home improvement project is worthwhile, a series of questions are usally asked:

• Will this project increase the liveable space in the house and/or enhance the home in any other way?
• Will this project be relatively cost effective (materials, labor, etc.)?
• Will this project most likely increase the value of the home?

But one more question should be added to that list:

• How will this home improvement project affect my homeowners insurance?

Changes to your home can bring about new and different insurance needs, so be sure to research how a specific change (addition, subtraction, etc.) could affect your policy before deciding whether to go through with it or not.

Recommended reading: Top 10 home improvement homeowners insurance considerations