Simply Explaining Insurance #96- Have you upgraded your house?
I had a client call in this week and inform me that they put a new roof on their house and I am glad they did. This allowed me to update the information of their home in our system and it actually lowered their premium.
If you have made any major changes or upgrades to your home, you will want to let your insurance agent know. Things like a new roof, new electrical, new plumbing, if you upgraded your kitchen, put on new siding, installed new floors, added solar panels to your roof, etc are all things to let us know about.
In some instances, these upgrades will lower the cost to insure your house. At the same time, the value of your home may have been increased and we will want that reflected in the amount of coverage we have on your house. If the house is going to now cost more to rebuild or fix, it will need to be shown in the policy.
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