When you update your Austin, TX home by either remodeling or renovating it, you’ll also need to update your home insurance with TAB Insurance Agency LLC.
Actually, you need to update your policy twice. First, you add construction insurance by endorsement or as a separate policy. That covers the workers who enter your home for liability. They also need to carry insurance, but their insurance covers their liability. Some of these policies also cover shoddy work, but not all, so ask us about coverage first.
Once they’ve finished the work and your home undergoes inspection from the code enforcement office in your city, you’ll update your primary policy. It would help if you covered the changes made to your home. This second policy change insures your home at its new appraisal level.
Here’s how it works.
You purchased your home for a specific price and insured it at that value. When you remodel or renovate, you must re-insure the house for greater value. Otherwise, if a fire or other peril occurs, you’d only get reimbursed for the value of the home as you purchased it. Imagine losing the $25,000 you paid for a new roof and a remodeled kitchen! That’s exactly what would happen.
On the other hand, when you insure the home at the newly appraised value, you ensure that your insurance fully covers the cost of the home’s replacement.
Contact Us Today
TAB Insurance Agency LLC can help you with the temporary construction insurance and the updated coverage for your renovated or remodeled Austin, TX home. We serve the Austin, TX metropolitan area, so you can purchase coverage from us if you reside in Cedar Park, Round Rock, or Leander. Call us today.