So, you’ve decided to give your humble abode a facelift. Maybe you’re dreaming of a kitchen that would make Gordon Ramsay jealous or a bathroom that feels like a 5-star spa. Whatever your renovation fantasy, there’s 1 thing you should know: Home renovations can significantly boost the value of your home. But before you grab that sledgehammer, let’s talk about why you should also have insurance in the process. Trust us, it’s not as dull as it sounds!
More bang for your buck
First things first, let’s talk about the moolah. Home renovations can be a goldmine for increasing your property’s value. Here are a few reasons why:
- Curb appeal. Have you ever heard the saying: ‘You never get a second chance to make a first impression’? Well, it applies to houses too. A fresh coat of paint, a new front door, or some snazzy landscaping can make your home the belle of the block.
- Modern amenities. Outdated kitchens and bathrooms are so last century. Modernising these spaces can make your home more appealing to potential buyers. Think energy-efficient appliances, sleek countertops, and fancy taps.
- Energy efficiency. Speaking of energy-efficient appliances, going green can save you some green. Upgrading your geyser or adding solar panels reduces your utility bills and makes your home more attractive to eco-conscious buyers.
- Functional spaces. Open floor plans, home offices, and additional bathrooms can make your home more functional and appealing. After all, who doesn’t want a little extra elbow room?
- Maintenance and repairs. Fixing that leaky roof or replacing old windows can prevent future problems and increase your home’s value. A well-maintained home is like a well-oiled machine, it just works better.
Better safe than sorry
Now, let’s get to the nitty-gritty of why you need insurance during your renovation escapade. Picture this: Halfway through your dream kitchen makeover, a rogue hammer decides to dive into your brand-new granite countertop. Ouch! Here’s why having insurance is a smart move:
- Protection during renovation. Renovations can be risky business. From falling ladders to accidental fires, things can go south pretty quickly. Insurance ensures you’re covered for mishaps that might occur during the process.
- Increased home value. Once your renovations are complete, your home’s value will likely increase. This means you must update your insurance policy to reflect the new value. Otherwise, you might find yourself underinsured if disaster strikes.
- Liability cover. If you’re hiring contractors, you’ll want to make sure they have their own insurance. But just in case, your homeowners’ insurance can provide liability cover if someone gets injured on your property.
- Peace of mind. Let’s face it: Renovations can be stressful. Knowing that you have insurance to cover any surprises can give you peace of mind and allow you to focus on creating your dream home.
Renovate with confidence
Home renovations can be a fantastic way to boost the value of your home, but don’t forget to have insurance in place to protect your investment. After all, you wouldn’t drive a car without insurance, so why take the risk with your home?
Remember, a little planning and the right cover can go a long way in ensuring your renovation project goes off without a hitch. Now, go forth and renovate with confidence! And if you need extra help, King Price is always here to ensure you’re covered. For a commitment-free insurance quote, click here or WhatsApp them on 0860 50 50 50.
Happy renovating!
Psst… This blog provides general info only and doesn’t count as financial or product advice from King Price or our legal and compliance experts. Remember, all our premiums are risk-profile-dependent, and T’s and C’s apply. Our most up-to-date KPPD (policy wording) can always be found here.
Our website T’s and C’s can be found here.
