I'm planning a big upgrade for my old Victorian home built in the 1920s. This includes re-piping the whole house and adding a water filtration system, which will cost around $25,000 to $28,000. Do I need to inform my homeowners insurance about this?
3 Answers
It's always a good idea to ask your insurance agent about any major upgrades. You might not need to change your policy right away, but getting their input can help you avoid any surprises down the road.
You really should inform your insurer, especially when you’re making significant changes. If something goes wrong later and they find out you didn’t notify them, it could cause major issues when it comes to claims. Better safe than sorry!
If you're pulling permits for the work, I would definitely let your insurance company know. They often offer discounts for up-to-code upgrades to your home's systems. If there are no permits, it could be harder to prove the work was done properly, and that might affect your coverage later.
Exactly! Having the permits not only helps with proof but could potentially save you some cash. It's definitely worth it.