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Write something about yourself. No need to be fancy, just an overview.
Oklahoma Insurance Professionals LLC Blog |
Write something about yourself. No need to be fancy, just an overview.
Home renovations are a way to breathe new life into your living space. Whether it’s transforming your kitchen into a chef’s dream, building a luxurious outdoor deck, or converting the attic into a functional home office, these upgrades boost both your home’s value and your quality of life. However, amidst the excitement, many Oklahoma City homeowners overlook an essential step: updating their homeowners insurance policies. Not adjusting your insurance after renovations could leave significant gaps in coverage. If the unexpected happens, you might find yourself responsible for costly repairs or replacements that your policy doesn’t cover. Let’s explore why renovations impact your insurance policy and how to ensure your home is adequately protected. Why Renovations Impact Your Insurance PolicyYour standard homeowners insurance policy is designed to protect the home as it was when you purchased your coverage. Renovations can alter your home’s structure, increase its value, or introduce new risks, all of which affect your insurance needs. For example, adding a room expands your home’s square footage and replacement value, while installing a swimming pool raises your liability risks. Ignoring these changes could mean you’re underinsured when you need coverage the most. What You Need to Update in Your PolicyUpdating your homeowners insurance policy isn’t just a formality—it’s critical to ensuring that all your hard work is protected. Here are the main areas to review and adjust after renovations:
Specific Risks in Oklahoma City and Surrounding SuburbsOklahoma City homeowners face unique risks due to the area’s severe weather, including tornadoes, hail, and heavy rain. Renovations can increase your home’s vulnerability to these hazards if they include certain materials or designs. For example, high-end glass windows in a home’s new addition might be more susceptible to hail damage. Additionally, homes in suburbs like Edmond, Norman, and Moore may face specific risks based on their ZIP codes and proximity to open fields, where wind and hail damage are more common. Understanding these risks and how they relate to your renovations is key to maintaining adequate protection. Questions to Ask Your Insurance AgentBefore starting renovations, or as soon as they’re complete, schedule a conversation with your insurance company or agent. Here are some questions to guide the discussion:
How to Document Renovations for Insurance PurposesKeeping detailed records of your renovations can simplify the process of updating your policy and filing future claims. Here’s what to document:
Common Mistakes Homeowners Make
Oklahoma Insurance Professionals: Your Local Partner for Peace of MindAt Oklahoma Insurance Professionals, we understand the unique challenges faced by homeowners in Oklahoma City and its surrounding areas, including Edmond, Norman, and Moore. Our team specializes in tailoring homeowners insurance policies to protect your home, whether it’s a new build, a renovation, or an existing property. We’ll guide you through every step of the process, ensuring your insurance coverage matches your home’s updated value and features. Don’t let gaps in coverage undermine your investment. Contact Oklahoma Insurance Professionals today to review your policy and explore additional coverages that align with your home’s upgrades. With us, your home’s future is always in safe hands.
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