Home additions refer to the process of expanding a residential property by adding new space or rooms to the existing structure. It can significantly impact your Homeowner’s insurance policy.
When you make modifications to your house, it’s important to notify your insurer to ensure that your coverage reflects the new value and features of your property. Failing to update your policy could leave you underinsured in case of damage or loss. This can include extending the footprint of the house, adding a room, or creating new spaces like bedrooms, bathrooms, or sunrooms.
Additionally, certain types of house expansions may require specific types of coverage, such as liability insurance if you plan to use the new space for business purposes. Understanding the implications of building additions to your insurance can help you protect your investment and ensure you have the right coverage in place. Always consult with your insurance agent before starting any major renovations to discuss how your changes might affect your policy.
At PSIC, we consider the features of your home when quoting your policy. That’s why, on the declaration page, we ask you to provide details like the size of your property and your home, how many bathrooms and bedrooms you have, among other things.
Remember that any changes you make to your home can affect the quote and coverage we offer you, ensuring that you can repair or rebuild it if needed.
If you’re planning a home addition, you might need to optimize your coverage. In that case, superior security is an enhanced level of your Homeowners insurance. These changes also apply to Landlord, Mobile Home, and Condo policies. It’s specifically designed to provide more comprehensive protection by increasing liability limits or extending replacement cost coverage for your home.
This coverage is ideal if you own a high-value home and want to keep it secure, or if you’re a homeowner looking for more extensive protection. We understand how important it is to safeguard your investment, and we’re here to help you find the right coverage for your needs.
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Copyright © McGraw Insurance Services, L.P., Delaware L.P., 5515 E. La Palma Ave. Ste. 150, Anaheim, CA 92807, License 0K06900 / National Producer No. 17486061 The insurance policy, not the contents of this website, forms the contract between the insured and the insurance company. The policy may contain limits, exclusions and limitations that are not detailed on this website. Coverage may differ by state.
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Last updated: June 27, 2023
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