Owning a home in Longwood, FL, allows you to enjoy the beautiful, lush, and inviting scenery almost all year round. However, if you plan to upgrade or conduct major renovations to your home, it’s crucial to understand how these changes may affect your home insurance policies. Since renovations can fundamentally alter your property’s foundation, structure, value, and risk, adjustments may be necessary to ensure adequate and optimized coverage.

How Renovations Impact Home Insurance Policies in Longwood, FL

Renovations can impact home insurance policies for several reasons:

• New Risks: Introducing new risks, such as brand-new electrical systems or even an outdoor pool, increases the potential liability risks on your property. This will typically result in an increase in coverage requirements and costs.
• Coverage Needs: When you invest in new upgrades, such as a modernized roof for your home, you may receive a discount on your insurance policy. However, new upgrades, such as a hot tub, swimming pool, or even a home addition, may increase insurance rates.
• Home Value: As your home’s value increases, you may need to update your existing home insurance policy. For instance, if you add more square footage to your home, repair your home’s foundation, or incorporate eco-friendly appliances throughout your kitchen and bathrooms, the replacement cost of your home will rise. In most cases, this will require additional coverage.

If you’re interested in reviewing your current homeowners’ insurance policy due to recent renovations, Express Insurance in Longwood, FL, can help. As a trusted and experienced provider, we assist homeowners in navigating insurance adjustments after renovations, additions, and various upgrades throughout the home. Contact Express Insurance today for more information about your existing home insurance policy and potential adjustments you may need for current or future renovations.