Home remodeling can be a fun and exciting activity to look forward to. It is also an excellent way to improve your  Deerfield Beach, FL home. Many people prefer to design, add fixtures, paint, and replace various units in the kitchen and bathroom.  However, kitchen remodeling can either lower or raise your insurance premiums. At Deboo Insurance Agency, Inc., we recommend speaking or mentioning your intentions to your insurance company early in advance.

Why is it essential to inform your insurance provider about your renovations?

Home renovations play a massive role in determining the value of your home, which in turn affects premium rates. Major renovations may require you to purchase separate coverages to cover for onsite workers and any damage that may result from demolitions. If you are planning to change the entire layout of the kitchen, your insurance company will only be responsible for the damage made to the possessions in that kitchen but not any other damage that may be caused by as a result of the renovation.

Small renovations may lower your premiums.

If your home is a bit old, renovating your kitchen means you will get rid of the wear and tear around that part of the house. Renewing cabinets, changing tiles, or simply painting your kitchen can help lower your home insurance premiums by up to 20%. While the cost may be entirely yours, it is imperative to make calculations and decide whether it is worth it.

Adding a home office or a pool increases your premiums.

Adding the above items in your home may not only cost you a considerable amount of money but also increase your premiums. Building a pool will require you to have higher amounts of liability insurance to protect pool users in your home. A home office, on the other hand, is going to mean getting some part-time income. Your insurance company will need to add the equipment and office furniture in your personal belongings coverage, which will cost more.

For more information about home insurance, reach us at Deboo Insurance Agency, Inc. in Deerfield Beach, FL today!