Can “Do It Yourself” Projects Jeopardize Your insurance?

Many people are remodeling their homes these days. However, before you jump into a project, you might consider the following home insurance issues. Most homeowner’s policies are based on a value of your home that fluctuates based on the “like kind and quality” that existed when the policy was first placed.

Many home improvement projects increase your home’s value, and should be added to your current replacement value.

• If your DIY project requires a permit and you fail to get one, your homeowner’s insurance may be in jeopardy. For example, if you install a wood stove but fail to get a permit and have a licensed contractor complete the work, your insurer would automatically deny any resulting claims most of the time.
• Your homeowner’s insurance covers third party injuries. It does not cover injury to you or members of your household.
• Here are a few examples of DIY projects that will have an impact on your insurance: Outdoor living spaces, pools, upgraded kitchens or baths, room additions, and storage sheds.

If you are not currently a Leap / Carpenter / Kemps customer, we invite you to talk to one of your many neighbors who are, to see if it might be time for you to change the way that you buy insurance. Let us provide you with a free analysis of your insurance coverage to help you determine if you have the right policies at the right cost. We are here to help!