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How do home improvements affect my insurance?

Power Drill for Home Projects

Here at HomeFirst Agency we understand that doing home improvements and remodeling your home is a large project. As a homeowner, there are numerous questions that you might have before you start renovating, so we’ve compiled a few to help you get started.

Do home improvements or remodels affect the value of a manufactured or modular home?

Doing renovation to your home could improve and increase the value of your home, but it depends on a few things such as what sort of renovation it is and how much it’ll cost.

Manufactured Homeowners Painting Home

Do home improvements change insurance coverage?

It can. If you report the renovation to HomeFirst, we can potentially increase the coverage of your home. If we were to increase the coverage of your home based on a higher home value, your premium could go up depending on the coverage increase.

How do I get my home reevaluated or report a new home value?

You should call a customer service representative as soon as your home improvement project is complete and then submit pictures and receipts from the renovation project.

Homeowner Making Phone Call

Will my renovations be covered by my homeowner’s policy?

Your HomeFirst policy does not cover incidents due to renovation. It only covers damage to your home caused by something direct, sudden or accidental.

As we said above, once you complete your renovation and report it to HomeFirst, we can potentially increase your insurance coverage based on the type of renovation and extent of the project.

Does HomeFirst have a coverage that covers home renovation?

HomeFirst does not offer coverage for home renovation projects. However, if you’re looking for coverage, some insurance providers offer Builders risk type policies available for interior and exterior remodels for both small and extensive renovations.

These Builders risk policies give options such as whether you want coverage for the renovation value only or for the entire existing structure, the length of the policy term and coverage for theft of renovation materials or vandalism.

Manufactured Homeowner on Porch

If you have further questions, feel free to contact us at 1-800-664-9309 Monday – Friday 8:30 a.m. to 5:30 p.m. ET, we’re ready to help you today!

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