Call Us (803) 786-2224 ☰ ˟
Logo
Call Us (803) 786-2224
  • Home
  • Get a quote
    • Auto Insurance
    • Classic Car Insurance
    • Homeowners Insurance
    • Equine Insurance
    • Farm
    • Flood
    • Recreational Vehicle Insurance
    • Umbrella Insurance
    • Business Owners Policy
    • Commercial Auto Insurance
    • Contractors Insurance
    • General Liability Insurance
    • Workers Compensation Insurance
  • Products
    • Automobile Insurance
    • Bonds
    • Homeowners Insurance
    • Equine Insurance
    • Farm Insurance
    • Farm Auto Insurance
    • Farm Owners Insurance
    • Farm Structures Insurance
    • Flood Insurance
    • Recreational Vehicle Insurance
    • Specialty Automobile Insurance
    • Umbrella Insurance
    • Business & Commercial Insurance
    • Commercial Auto Insurance Insurance
    • Contractors Insurance Insurance
    • Life Insurance
    • General Liability Insurance Insurance
    • Workers Compensation Insurance
  • Resources
    • Refer a Friend
    • Important Links
    • Insurance Glossary
  • About Us
    • Testimonials
    • Privacy Policy
  • Contact
    • Contact Us
    • Join Our Newsletter
Auto Icon

Auto

We browse through a wide variety of coverages and find the right one for you.

Learn More
Home Icon

Home

We browse through a wide variety of coverages and find the right one for you.

Learn More
Business & Commercial Icon

Business & Commercial

We browse through a wide variety of coverages and find the right one for you.

Learn More
Recreational Vehicle Icon

Recreational Vehicle

We browse through a wide variety of coverages and find the right one for you.

Learn More
Farm Icon

Farm

We browse through a wide variety of coverages and find the right one for you.

Learn More
Home > Blog > Adding Space to Your Home? Add to Your Home Insurance Policy
THURSDAY, APRIL 22, 2021

Adding Space to Your Home? Add to Your Home Insurance Policy

Adding space to your home is often needed to make your family more comfortable, especially when your family is about to expand. However, adding space to your home also means adding value which can affect your home insurance coverage needs and rates. house made of money

Here are some things to consider: 

What Type of Home Addition Are You Doing?  
There are various ways to expand your home. It may be a simple step, such as expanding the size of a bathroom or adding in a new bedroom in the basement. These generally do not change the overall floor plan of your home. They can add value, though. 

For example, adding another bathroom or bedroom may make your home more valuable if you sold it. However, what is important here is to understand the cost to rebuild it in case of a loss.  

For example, if you convert an open space in the basement to a new kitchen, you are doing a significant amount of new work. The cost to rebuild that kitchen if the home insurance company totals it is higher than simply replacing an open space. Be sure to speak to your agent about this. You may need to add value to your home.  

Larger Scale Renovations and Updates  
There are other instances in which your home addition is more significant. You may add a second story to the home. You may expand the square footage. When this occurs, you are adding a lot more value to the home. And, the cost to rebuild it is now significantly higher.  

This means you need to have a higher amount of home insurance coverage in place. More square footage means you need to have a higher valued policy to cover the cost to rebuild.  

Speak with Your Insurance Agent 
Before you invest in a large home addition, talk to your agent about the plans. Then, get an estimate of what the new home insurance cost will be.  

When you take these steps, you gain better insight into what you can expect to pay. You also can discuss any new risks from the home addition. For example, adding a second kitchen adds more risk than adding a bedroom simply due to the fire threat.  

Protect your home and any of its upgrades with the proper home insurance policy. Speak with an insurance agent about any changes you make to your home. 

Posted 11:41 AM

Tags: home insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2023
  • 2022
  • 2021

  • insurance(3)
  • farm insurance(3)
  • home insurance(3)
  • coverage(3)
  • life insurance(2)
  • auto insurance(2)
  • hurricane insurance(2)
  • weather(1)
  • extreme(1)
  • bonds(1)
  • homeowners(1)
  • rv insurance(1)
  • coastal insurance(1)
  • flood insurance(1)
  • livestock(1)
  • equipment(1)
  • general liability insurance(1)
  • ranch(1)
  • burglary(1)
  • farm(1)
  • business owners policy(1)
  • general liability(1)
  • prevention(1)
  • driving(1)
  • car(1)
  • policy(1)
  • business insurance(1)
  • workers compensation(1)
  • auto(1)
  • emergency planning(1)

View Mobile Version

Contact Us Today!
(803) 786-2224

Social Social Social Social

Resources

  • Products
  • Customer Service
  • Payment Options
  • Report a Claim
  • News
  • About Us
  • Refer A Friend
  • Our Carriers
  • Blog
  • Contact Us

Contact Us

305 Main Street
Blythewood, SC 29016

P: (803) 786-2224 | info@chichesterinsurance.com
© Copyright. All rights reserved. | Powered by Insurance Website Builder