For many, there is nothing quite like that first weekend spent on the lake. Spring means it is time to prep the boat and perhaps a few outdoor events with family. It also means it may be time to do some work around the home, especially outside. Clear Lake residents are proud of their properties, of course. Adding a beautiful deck or building a shed can be an excellent investment. However, it’s important to keep your home insurance agent in the loop.
Check with Your Insurance Agent About Your To-Do List
As the last few weeks of winter move on, most residents in Clear Lake are making a list of what they would like to accomplish this spring in preparation for the summer months. The more you do now, the less you’ll have to worry about when you would rather be fishing or relaxing in a park. Before you start on any project, have a quick chat with your home insurance agent about them. Determine whether or not your insurance will be impacted.
Common projects that could impact home insurance include:
- The addition or expansion of a pool
- Adding a new porch or deck to the home
- Adding a new structure such as a garage or shed
- Adding fencing
- Additions to your home
Common spring projects that don’t typically impact insurance include:
- Installing new flower beds or planting flowers
- Planting new trees or shrubs
- Raised garden bed installation
- The addition of fire pits (though they can pose a liability risk in some cases)
Adding Value Means Checking Your Policy
If you are handling any type of spring project that could increase the value of your home, discuss the amount of coverage you have on your existing policy. Most home insurance policies include Coverage B – Other Structures. This generally provides you with 10 percent of your Coverage A – Dwelling coverage to pay for incidents related to other structures on your property. This can include garages, sheds, pools, and other structures.
If the value of the items you add to your home is more than the Coverage B will cover, you may need some help. It is possible to extend the amount of coverage you have for such structures. To do so, you need to talk to your agent. Additionally, we’ll talk about the specific structures you have. They should be specifically listed on your policy.
Worrying About Liability?
The addition of a pool, fire pit, or an outdoor kitchen sounds great. Everyone loves to host big family events at home in this area each summer. But, these structures add risk to your home, too. That means you need to ensure you have enough coverage to meet any liability risks. Some of these structures can change the risk level of your home. Your home insurance agent in Clear Lake will offer suggestions on how to minimize risks, such as with the addition of safety fencing. However, you should inform them of your new investments. Otherwise, they may not cover an accident that occurs there.
Get an Update Now
Springtime is the perfect time to connect with your insurance agent. Discuss the projects you have in mind. Then, be sure your policy gives you the financial protection you need to minimize these risks. It does not mean you will pay more, but it does provide you with more peace of mind knowing you have coverage based on your home’s total value and liability risks.