Archbold, OH -- (ReleaseWire) -- 08/01/2024 --Beck Insurance Agency is the first choice for home insurance serving Defiance, OH, Napoleon, OH, Otsego, Maumee, Holland, OH, Bowling Green, OH, and the surrounding areas. With a legacy providing insurance solutions to the community dating back to 1948, Beck Insurance Agency has stated current trends in home insurance offerings, providing valuable insights to homeowners who want to remodel or renovate their homes.
According to Beck Insurance Agency, here are some of the ways in which home remodeling can impact home insurance coverage, claims, and premiums:
- Increased Property Value - Significant home renovations, like modernizing kitchens, remodeling bathrooms, or constructing an additional room, can significantly boost a home's market value. As the property value increases, the home insurance policy may need to be adjusted to reflect the new home value, ensuring full coverage in the event of a claim.
- Upgrading Safety Features - Enhancements to a home's safety features, such as installing updated electrical systems, new plumbing, or advanced security systems, can lead to potential reductions in home insurance premiums. Home insurance carriers often provide discounts for homes equipped with improved safety measures, as these upgrades reduce the likelihood of damage or theft.
- Liability Risks - Remodeling projects that include additions like a swimming pool or a new deck can elevate liability risks. These features may necessitate an increase in liability coverage to safeguard against potential claims if an injury occurs on the property. It is crucial to reassess and potentially raise liability limits to address the new risks introduced by the renovations.
About Beck Insurance Agency
Beck Insurance Agency has decades of experience serving home insurance to Defiance, OH, Napoleon, OH, Otsego, Maumee, Holland, OH, Bowling Green, OH, and the surrounding areas. Their team of compassionate and skilled agents is here to help homeowners reassess their home insurance needs in the event of remodeling or renovations. To learn more about home insurance and the impact of remodeling on policies, visit www.beckinsurance.com today!