Renovating your condo can be a great way to boost its value while enhancing your personal comfort. However, major or even minor adaptations should never be made without proper planning. In addition to selecting the right contractor, you’ll need to apply for any required permits at a Chicago, IL permit office. Additionally, it’s a good idea to inform your insurance company about your planned home changes.

Why Inform Your Insurance Agency?

There are two key reasons why your insurance agency needs to be aware of major condo renovations. First, any new additions to your condo must be added to your policy; otherwise, your insurance agency won’t cover them. Second, certain renovations can lower your policy costs if they make your home safer than before. For example, installing a new roof or adding smoke alarms can reduce your premiums.

It’s best to discuss your planned condo changes with your insurance agency before starting work. This helps you avoid unexpected issues and allows your insurer to advise you on which renovations could lower your policy costs. Additionally, your insurer can inform you about any renovation requirements you may need to meet to maintain your coverage.

Need More Info? Contact Arial Insurance Group

Arial Insurance Group serves condo owners in and around Chicago, IL. We specialize in helping clients find the best coverage options at the most competitive prices. If you want to learn more about how home renovations could affect your insurance policy or explore your condo insurance options, give us a call today. We’ll review your situation to ensure your renovated home has the full protection it needs.