Do You Need to Notify Your Insurance About Plumbing Renovations?

Posted on February 17th, 2017 by

The need to hire licensed and insured professionals when performing residential upgrades is something most homeowners are well aware of. However, what many people don’t know is that they should always talk to their own insurers about projects like these in advance of having work performed. This is especially true when it comes to plumbing renovations. The staff at CMA Flooring, a trusted Carrollton flooring store, discusses several reasons why.

The Planned Work Could Alter Your Risk Profile

When outlining the terms of your coverage and determining your premiums, your insurer bases its decisions on a carefully calculated risk profile. Certain property changes can make your home uninsurable. These might include the addition of high-value fixtures and appliances or the latest and most innovative water features. If you don’t consult with your insurance company before making these changes, you could find yourself scrambling to find new coverage further down the road.

Your Policy Will Need to Be Adjusted to Reflect Changes in Your Property’s Value

Plumbing upgrades are great for building sweat equity. The right additions can add a considerable amount of value to your home. Moreover, these changes can also enhance its marketability. This makes it necessary to have your coverage limits adjusted to reflect these increases.

You Need to Find Out the Coverage Requirements for Contractors

It’s not enough to simply hire a plumber who has commercial insurance. This professional will need to have specific coverage types and specific coverage limits. Consulting with your insurance company ahead of plumbing renovations will give you the opportunity to find out exactly what your insurer’s requirements for this coverage are.

You Should Avoid Violating Your Coverage Terms

In addition to potentially rendering your home uninsurable, certain renovation projects can actually constitute a breach of contract. Home insurance policies are complex agreements between property owners and insurance companies. Taking the wrong actions or failing to take the right ones could put you in violation of the terms and conditions you agreed to when binding your policy. Speaking with your insurer about your renovation plans ensures your coverage is not voided as the result of a simple and preventable error.

If you’re in the midst of a plumbing renovation, you might also need some attractive new kitchen countertops. Carrollton homeowners love the products we offer, which also include various types of wood, vinyl, tile, and laminate flooring. Give us a call today at 972-418-6606 or stop by our showroom for a free quote.