Renovating your home

Start with your broker!

As a homeowner you should be aware that there are certain requirements when remodeling, renovating or enlarging your home. You need to ensure that your property is adequately insured during and after your home improvement.

Remodeling, renovating or enlarging your home is a Material Change in Risk and as a result may affect the amount and/or type of coverage available. Any structural changes must be disclosed to the Insurance Company as stated in most Homeowners policies.

Depending on the duration or extent of renovations – particularly for high-valued properties, Insurance Companies may amend or restrict coverage during the Course of Construction.

Amendments to coverage may include:

  • Course of Construction surcharge being applied to the premium in light of increased fire, theft and vandalism exposure during this period
  • Vacancy surcharge if the residence is vacated during construction
  • Increased deductible amounts
  • Installation of monitored burglar/fire alarm systems
  • Installation of motion detection lighting or perimeter fencing to limit access to the property (to deter vandalism or theft)

It is important to select a contractor who can produce reliable references and a “Certificate of Insurance” indicating sufficient liability insurance to cover the value of the home.