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Home Renovations

Summer is a popular time of the year to start home renovations. To increase the value of your home, some of the most popular home upgrades include: refreshing your home with a coat of paint. Or if you have a larger budget, updating your kitchen, bathroom or flooring. Outside projects that add curb appeal include: improving your landscaping with a new lawn or plants, a fresh coat of exterior paint or new windows and doors.

Embarking on a home renovation can be exciting. However, planning for a renovation is also daunting. While it can be easy to get wrapped up in the details of your vision, it is important to think about your home insurance. The most important thing to remember is to let your insurance company know before starting a home renovation.


Contact your insurance company

Your home's replacement cost may need to be updated to reflect any upgrades. This ensures the amount of insurance on your home is adequate to cover all of the upgrades that have been completed.


Insurance coverage during a renovation

If you are undergoing a major renovation you may not have full coverage during the renovation given the increased exposure. If there are exposed walls or you are increasing the square footage, your insurance company might change your policy to a home “under construction”, where you may need to pay more for certain coverages during the renovation.


Insurance premium impact

You may be eligible for more savings on your home insurance. For example, if you replace your roof or your hot water tank you may be entitled to a discount.


Helpful Tip

Make sure that your contractor has insurance just in case any of the workers cause damage. For example if the contractor ruptures a water main which damages your neighbour's property, it's more likely to be covered by your contractor's insurance instead of yours. Ask to see the contractor's certificate of insurance to be sure.


BCAA Members save up to 30% at Cloverdale Paints and 10% at 1-800-GOT-JUNK. To be sure that your home is protected during renovations speak to a BCAA Insurance Advisor. Everyone is welcome, plus BCAA Members save up to 20% on BCAA Home Insurance.