Are you considering renovating your home in the near future?  Or maybe you just recently did some updates?  If so, you might need to take a look at your home insurance!

When you start your home insurance policy, your agent takes some basic information on the property.  How many bedrooms?  How many bathrooms?  How much square footage?  As well as the number of fireplaces, the kind of foundation, and the last time the roof was replaced.  All of this information is used to estimate the cost to replace the house if it were to suffer a claim.

You may have noticed that your home is insured for quite a bit more than you originally paid for it, and maybe even a lot more than you could sell it for in the current market.  That’s because home insurance is based on the cost to REPLACE a home to it’s current standard based on the cost of building materials, etc.  It’s not based on what you paid or the current market value.

So when you make renovations, you could be changing the replacement cost, which would need to be reflected in your home insurance policy.  This is especially important if you add square footage, finishing out a basement, or adding an additional bathroom! 

You’ll also want to consider the type of building materials used on your home.  Your policy may have been estimated with “builder grade” materials.  This simply means that your counter tops, mirrors, cabinets, etc. are pretty basic and less expensive.  But if you update the kitchen and put in high end granite counter tops, new cabinets, and top of the line appliances, you’re increasing the amount that the home needs to be insured for!

How will this affect your premiums?  Usually not a whole lot!  Yes, if the home needs to be insured for more, you might pay slightly more, but it’s not going to be a significant difference unless you’re adding a large amount of square footage.  Talk to us about your renovations so we can recommend the best coverage options! We can run a complimentary replacement cost estimator even if your insurance isn’t with us to make sure you have enough coverage on your home, town home, or condo.

We love helping families save on their insurance.  Call today for a quote!  888-565-2212 or visit us online at

At Bryan Insurance, we are the leading insurance agency for home insurance, town home and condo insurance in New Windsor, Long Island and the surrounding New York area.

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