Category: Home Insurance

Renovations, particularly ones carried out in your home’s basement, can significantly impact the type of home insurance coverage you require. Prior to updating your existing policy, consider the following guidelines to ensure complete coverage.

Insurance Coverage Increase

The key reason to augment your home insurance coverage is to protect the added value of basement renovations adequately. Given that new materials and features may alter your home’s functionality, it’s prudent to ensure the renovated space and any new additions are protected against unexpected damage.

Account for Loose Purchases

Evaluate all loose items you have purchased for your renovated space, including furniture, media equipment, decorations, and more. Recording the accumulated cost of these items assists in assessing the value of items to be added to your insurance policy. If available, receipts for your purchases can provide this assessment’s accurate basis.

Incorporate Structural Materials

Remember to consider the structural materials installed during the renovation. Assessment should cover added elements such as windows, doors, moldings, wall panels, and other materials that enhance the living space. All these structural elements can be incorporated into your home insurance policy for complete coverage.

Electrical and Plumbing Systems

Inspect the new electrical and plumbing systems incorporated into your basement. It is important to add these new elements to your current home insurance policy. Your contractor should be able to provide a detailed invoice listing the investment made in these upgraded systems.

Consult with an Insurance Expert

Bringing an insurance agent into the picture is a wise final step. Schedule a consultation with a Rancho Del Sur Insurance Services Inc. representative, which serves the San Diego, CA area. At Rancho Del Sur Insurance Services Inc., we are dedicated to addressing all your insurance needs and preparing updated home insurance documents tailored to your revised coverage needs.

If you’re proud of your fine art collection in your home, our team in San Diego, CA at Rancho Del Sur Insurance Services Inc. wants to help you ensure that this asset is protected through the appropriate insurance policy. You may already have homeowners insurance through our agency. In that case, you might wonder if the policy can cover fine art pieces and protect your prized collection.

Coverage is subject to regulations in the insurance industry. Still, for those who haven’t purchased a home insurance policy with us yet, it can be important to ask questions about how we might be able to help you protect the items that are most valuable to you like your art collection. Although every insurance policy has terms and limits that apply to that policy, we may be able to answer this question on a general level to give you a starting point for deciding what type of insurance may be best for keeping your art pieces protected from theft and more.

Can Home Insurance Cover Fine Art Pieces?

Although some policies may have terms and limits that exclude fine art pieces, most home insurance policies provide some sort of coverage for valuable items and assets like fine artworks. From fine art paintings to sophisticated sculptures to drawings to prints and beyond, your home insurance policy may be able to reimburse you if your fine art piece is stolen. While some policies have exclusions that account for natural wear and tear and pests that may damage the artwork, most policies should cover some assets even if those policies exclude art as a whole.

To learn more about our home insurance policy options in San Diego, CA, call Rancho Del Sur Insurance Services Inc. for more information today!