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Discover How To Do It Yourself Without The Hassle

Jun 7, 2008
It seems all the rage lately to make improvements on your home. There are many television shows that teach you how to redo a room or even an entire house. As many people like to stay with current trends, so they are redecorating and remodeling to keep up to date in their homes.

One of the major pitfalls with this type of work is not estimating enough money to pay for all of the materials and work involved. Worse yet, these people forget that when they do a remodel, they need to contact their homeowners insurance company, as it raises the value of your home.

Even though you may be dead set against hiring any of the work done, if you are doing anything electrical, it should be hired out. There are usually city codes that need to be followed, and the average person doesn't know those. You can also get turned in if you do the work without a licensed electrician working on it.

You have probably heard the stories about someone who just redecorated or renovated their home, and then a few weeks later, it was destroyed by a flood or fire. How awful and devastating that is. The worst part of it is that these same people probably never informed their insurance agent about the recent renovations that brings the value of the home up. Therefore, they will not get reimbursed for the remodel.

For home insurance, you want to estimate how much it would cost to rebuild your home. Of course, if it is an older home, you can't rebuild it like it was, but you can know the value on the home and how much it would cost to rebuild today. When you do an addition or remodel, you need to know exactly how much you spent.

For example, many people take out a home equity line of credit to pay for their remodel. The amount of this that you use is a good estimate to give your insurance agent of how much you spent. You can get an adjuster to look over the house and estimate how much it will raise the value of the home. When you are figuring this number, remember to take into account any new things you buy to decorate with. Furniture, knick knacks, paint, etc., all play into this figure.

Just be sure to remember to account for all of the new furniture, lamps, etc. that you purchase for your remodel. If you were to lose them, you would want them replaced by your insurance. The unfortunate thing is, most people forget this very important step.

No one wants to do a remodel and then lose it all with no coverage. Be sure to take these steps to ensuring what you add is covered.
About the Author
Carrie Harris is an expert on getting a quick homeowners insurance quote. She knows all the secret steps to take when insuring your home and getting a good rate.
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