How Remodeling Affects Your Putnam Homeowners Insurance – Part 1

How Remodeling Affects Your Putnam Homeowners Insurance – Part 1How Remodeling Affects Your Putnam Homeowners Insurance – Part 1

Remodeling your home is a very common step that many homeowners take. The remodeling project can often boost the value of your home, making it more sellable in the future. Or you could possibly be remodeling just for your own enjoyment. Either way, it’s important to consider the financial aspects of the job, whether or not you’ll be using a contractor, and what the implications of the project will be to your Putnam Homeowners Insurance policy.

In the first part of this two-part post, we’ll look at what factors to consider in relation to your Putnam Homeowners Insurance policy before, during, and after your home remodel. For example, the first step you should take before starting your remodel is to notify your Putnam insurance agent about your remodeling plans. Your agent can help you determine how much additional property coverage you’ll likely need, and can also help you obtain Putnam Umbrella Liability Insurance coverage if need be.

If you hire contractors to work on your home, they will likely have their own insurance coverage. However during your remodel, if you should find out that they do not carry the appropriate insurance for the jobs they are performing, you may want to have extra liability. This will save you a headache if they were to injure themselves and make a claim against your Putnam Homeowners Insurance.

Another factor to consider during the remodel is the materials that are being used. Try to invest in building materials that fortify the structure against damage. Failing to do so can increase your Putnam Homeowners Insurance premiums, while fortifying your home can actually help add discounts to the policy.

Once your remodel is complete, your property value and your replacement costs will have increased. Plus, if any redecorating was included, the value of your contents might have increases as well. This means that it’s time to review and possible update your Putnam Homeowners Insurance policy to reflect the new values. A Byrnes Agency professional will be happy to discuss this with you and help you decide what your new property and contents limits should be.

In part 2 of this post, we’ll explore how the decisions you make and the processes you follow in your remodeling project affect other areas of insurance in addition to your Putnam Homeowners Insurance Policy. In the meantime, feel free to contact us at one of our various locations listed below for more information.

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Dayville Office

Phone: (860) 774-85
394 Lake Rd
Dayville, CT 06241
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm

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Norwich Office

Phone: (860) 886-5498
6 Consumers Avenue
Norwich, CT 06360
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm

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Woodstock Office

Phone: (860) 928-7928
1226 Connecticut 169
Woodstock, CT 06281
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm

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