Insurance benefits of renovating your home

Home renovations are not only exciting to do, but also come with many advantages. Apart from improving your home’s appearance, they provide a more comfortable, secure, and efficient living environment for you and your family. To top that up, they can also lower your home insurance premiums. So, if you are planning to renovate your Brooklyn, NY home, inform your insurance prior. Let’s look at the general benefits of home renovations.

Improves the overall look of a home

The primary purpose of a renovation is to improve the look and longevity of a home. Many people in Brooklyn, NY tend to renovate the kitchen and bathroom while others prefer to go further and add a few rooms. Whatever you choose to add, the whole intention and purpose are to make your home better.

Increases the value of your home

When a home is in good condition, its value goes up. Similarly, your insurance rates are likely to go down as the chances of filing a claim are considered minimal. However, some additions improve the home but raise the rates. Additions such as a swimming pool or an office improve your home’s value but increase the insurance rates.

Some improvements make your home safer.

Getting rid of the old slippery tiles or covering those cracks on the patio not only makes your home safe for your children but also keeps insurance claims away. While some accidents are inevitable, adding safety features in your home significantly minimizes accidents hence a lower number of injuries and claims. If you have children or pets in your home, the VAC insurance Agency recommends speaking to a home insurance expert to help you identify some of the safety features you can add in your home to reduce accidents.

At VAC Insurance Agency, we understand that completing a home renovation is not always easy. That is why we are here to answer any questions that you may have. Try us today!

What’s Inside a Typical Homeowner’s Policy?

Your mortgage company may require you to carry homeowners’ insurance, or you may elect to continue coverage after purchase. Maybe you just paid off your mortgage, and you’re riding the fence about renewing your policy. VAC Insurance Agency of Brooklyn, NY wants you to understand exactly what a standard homeowner’s insurance policy covers and why you need it.

Protecting Your Investment Four Ways

Your standard policy provides vital financial protection for your investment. The home policy protects you from physical property loss due to a named peril like fire or tornado, as well as from accidents such as a teenager who drives into the garage while the garage door remains closed. The policy also covers theft, so if a burglar breaks in and steals your big screen and stereo, the insurance pays for the replacement, plus the repairs for how the burglar broke into the home. The same standard policy provides liability protection. That means if your neighbor visits to watch a football game and falls down the front steps leaving to go home, the home policy pays for their medical bills. If they sue, it would also cover your attorney fees.

Named Perils

The standard homeowner’s policy covers the expense of repairing or rebuilding the home when it becomes damaged or destroyed by a named peril. That means a specific cause named in the policy. In a standard policy, a named peril refers to fire, hail, hurricane, lightning, or tornado, but not flood. The latter requires a standalone National Flood Insurance Program policy. Some states include earthquakes in the named perils, and others do not.

The other structures not attached to your home also receive coverage in the amount of 10 percent of the insured value of the house. Other structures refer to a garage, gazebo, shed, or workshop.
Talk to VAC Insurance Agency of Brooklyn, NY about the homeowner’s policy you need. You can include items like additional living expenses (ALE), so you can live in a hotel while the home receives repairs. You can also add extra liability coverage, helpful if you host a lot of parties or run a home business. Let’s discuss your needs, so your home investment remains protected.

What can your home insurance policy cover?

Your home insurance policy is for more than looking pretty. A good indemnity plan can shield you from heartache and incredible loss when the unexpected happens in Brooklyn, NY.

The agents at V.A.C. Insurance Agency can tell you about all the benefits of having a good home insurance plan. Read on to learn what a policy can do if you are a victim of theft or Mother Nature.

Natural Disasters

The average home insurance plan covers natural disasters such as lightning and damages related to hail. Weather conditions related to hurricanes and massive flooding may not be covered under a traditional home insurance plan.

It is important to check with your agent at V.A.C. Insurance Agency to learn what your policy covers regarding natural disasters. You do not want to wait until tragedy strikes to learn that your coverage may not be enough.

Personal Property

Theft violates you in more ways than one. You have to live with the reality of someone coming into your dwelling space without authorization. You also must grapple with the notion of them taking items that can never be replaced.

Home insurance can help you recover with personal property protection. This type of assurance pays cash for items lost in a robbery. An agent at V.A.C. Insurance Agency can help you find the policy that covers some of your most treasured possessions.

A homeowner should never go without home insurance. It only takes a few seconds for you to lose everything and be left with the reality of starting over. The agents at V.A.C. Insurance Agency in Brooklyn, NY can help you better prepare for the unexpected. Call us today to get started with a home insurance quote!