Renovating a Home and Insurance Impacts

Home renovations can seem like a great way to make an old Sandy, UT home brand new again, which can mean big changes to the risk factors of a home as well. Depending on the renovation that is performed, it can mean no impact at all or a significant change to a home coverage policy. Here are some of the big changes that have related big impacts to a policy cost:

  • Replacing the roof – Roofs on a home generally last about 20 years before needing repair, and some are less. Ideally a homeowner shouldn’t wait until a leak develops. A full replacement can seem like a big hit, but to a home policy it can also mean a big cost reduction of 10 to 20 percent of the annual cost, savings that come back over time.
  • Be careful with pools – While they may seem like the ultimate personal luxury items, pools significantly increase risk for a home. Everybody who knows the homeowner wants to visit and jump in the pool, and that means a higher chance of an injury. It also means a far greater insurance cost for the home with the pool.
  • Start a home business, expect expenses – Many home businesses involve a good amount of computer equipment and peripherals. Covering all of that business-related material may not receive full reimbursement if not identified properly in a policy. So if you modify a home for an office, make sure to get a rider or new clause in an existing policy.
  • Adding an extension – Mathematically, more square footage and structural materials means more costs for repair and reconstruction when damage occurs. So obviously an expansion triggers a higher policy cost as well.

To find out how a Sandy, UT home renovation translates to a policy, talk to Smart Way Insurance Agency. He or she can help estimate your accurate impact or savings.

Liability and You: What Kind of Auto Insurance Should You Get?

When drivers first hear about liability insurance, it can sound like music to their ears. After factoring in how much a car payment is and how much they’ll have to pay for gas and maintenance, the last thing anyone wants is a high car insurance bill on top of that. But hopefully there’s something inside you that knows the cheaper options may not always be the way to go. If you live in Sandy, UT, learn more about how liability insurance works. 

Good for Certain People 

Liability actually is good for some people, but those numbers are low. If you hit someone, then insurance is responsible for the person you hit — not any damage to you or your car. This means that if you need steady transportation to get to work, then you’re out of luck until you get your car fixed (entirely out of pocket) or buy a new car (also out of pocket.) If your car is extremely cheap and you have no sentimental attachment to it, then this may be the right choice for you. However, it can end up being a big expense that could have been avoided. 

Extra Considerations 

If someone hits you with no insurance, you need extra coverage to make sure that you can get your car fixed. While you can technically sue the other driver, there may be nothing to get from them. By planning for contingencies, you ensure that you’re doing your part to stay safe when you’re on the road. Choose an insurance carrier who serves Sandy, UT who can help explain all of this to you and much more. When there are an infinite amount of events that can happen, being prepared is a serious job.