How to Upgrade Home Insurance for a Renovation

When doing a renovation project on your home, it important to upgrade your home insurance for the cost of the project. You will want to make sure you have the proper increase in replacement cost coverage for the home and its contents. Work with your agent at Epic Insurance serving Lees Summit, MO and the surrounding communities. Your agent will let you know what adjustments are needed and how to document the expenses of the renovation project to make calculating the replacement costs easier when the job is done.

Sequential Home Insurance Upgrades for Work In Progress

Change the insurance coverage before the job is finished, if it takes a long time to do the project and the renovation is done in stages. You can make multiple adjustments to the amount of home insurance coverage in sequence as the work is partially finished. This keeps the home’s insured value at the correct amount that covers the investment being made in renovating the home as the construction project is underway.

Video Tape the Project

A nice way to document the project is to make a videotape of the progress. This is good evidence that the work is actually being done and how it is done. A video recording shows the quality of the work, in case it needs to be redone later due to damage from an insured risk. It is nice to add a narration on the video recording to describe any special features that are part of the renovation project. Describe the use of valuable materials for the construction and the installation of any custom work.

Inflation Adjustment

It is a good idea for home insurance to have an automatic increase in value that is recalculated based on the general rate of inflation. This percentage is applied to the insured value of replacement cost to cover the increases in costs due to inflation.

Call 816-795-6600 to talk with your agent at Epic Insurance in Lees Summit, MO and let him or her know about your plans for a renovation project so that the proper adjustments can be made to your home insurance.