Having a home in Matthews, NC comes with plenty of benefits, but it also binds you with responsibility. One of those responsibilities is homeowners insurance. While you’ll want to enjoy the freedom of homeownership and all of the changes you can make to your house, you should pause to consider how those changes will impact your insurance. The JC Demo Insurance Group has put together this simple guide to help you with expectations.

Changes to Property Value

Typically speaking, major home renovations will increase the value of the property. Not all changes are equal, though. Major floor plan remodels that open space or even create new rooms can add thousands to the value of a home. Big changes to the kitchen or bathrooms also yield hefty value returns, especially if you replace major appliances or fixtures. The bottom line is that these improvements may require a new appraisal to make sure your policy is covering the new value of your home.

Increased Liability

The most fun add-ons to a house are also usually the riskiest. The easiest example is installing a swimming pool. It will certainly add value that should be appraised, but it also puts you at a greater liability risk. On average, new pools can increase your liability risks by a factor of five. This holds true for other fun additions that come with risk.

Premium Savers

Let’s start with a disclaimer: every policy is unique, so the chance for saving on insurance premiums will vary case by case. That said, there are some upgrades that often do lower the price of your insurance. The biggest of them all is getting a new roof. The roof is the part of the house that offers the most protection from weather related damage, and many policies will offer a discount for improvements in this area. Smaller savings can sometimes be found with security improvements and major upgrades that better protect your house from damage.

By all means, make your Matthews, NC, home the place you dream it could be. Just don’t forget about insurance along the way. Talk to your JC Demo Insurance Group agent before you dive into a project, and it can save you headaches and uncertainty in the long run.

Did you know that home insurance in North Carolina is a multi-peril policy? This special type of policy can cover you for different events at the same time, such as property damage, medical payments, and more. Our team at JC Demo Insurance Group in Matthews, NC will show you the six types of coverage your home insurance includes below.

A. Dwelling – This covers you for major damage to the house and any structural parts attached to it. The amount is often determined by the home’s market value.

B. Other Structures – Similar to dwelling, this part protects any structures on the property that are separate from the house, such as tool sheds and barns.

C. Personal Property – While A and B protect your home’s exterior, C protects the contents inside that you or your family who reside with you own. It may not cover everything inside though, so you’ll want to purchase additional riders for complete protection.

D. Loss of Use – If the home becomes uninhabitable after a natural disaster, this part of coverage will help you pay for additional meals and lodging expenses.

E. Personal Liability – This section will help pay for any accidental injuries at your home that you or a member of your household may be responsible for.

F. Medical Payments to Others – If any visitors get hurt at your home, this part takes care of paying for some of the medical expenses. 

While this summary gives you the big picture,  there are also many other details in a Matthews, NC home insurance policy. Wondering if your insurance covers a specific scenario? Give us a call! Our team at JC Demo Insurance Group is happy to answer any questions you may have.

Your home is most likely the biggest thing you own and the most expensive. You’ve put a lot of money into it. You made repairs to the roof, updated the fixtures, and installed new flooring. This has become a huge investment. Why not protect it? Homeowners insurance is the only way to make sure that your home is safeguarded from disasters.

Why You Need Homeowners Insurance

The #1 reason to have homeowners insurance is protection. Coverage usually applies to the buildings’ structure and its contents. Depending on your policy, you can get protection for everything inside of your home. Talk with your independent insurance agents in Matthews, NC at JC Demo Insurance Group, so they can help you tailor your coverage to include:

• The House – repairing or rebuilding the homes’ structure.
• Personal Belongings – could include furniture, electronics, appliances, clothing, and other valuables.
• You, Your Family, and Guests – accidental injuries can be added to your policy to cover medical bills, hospital stays, and therapeutic costs.
• Additional Costs – if you have to stay at a hotel for a few days while your home is being repaired because of fire or water damage.

What Happens If Your Homeowners Insurance Lapses

Homeowners policies were meant to pay for damages to your home if there is a disaster such as a fire, vandalism, lightning, earthquake, hurricane, or other catastrophes. If you allow your policy to lapse, you would not only have to pay for damages that arise, but your mortgage could go into default. At the time of closing, most lending companies agree to the loan if you acquire and maintain insurance coverage. When there is a lapse, the lending company may put your home in default.

Get in touch with JC Demo Insurance Group in Matthews, NC. Their independent agents can discuss with you the details of maintaining your homeowners insurance policy.

When it comes to adding value to your home, you may have heard before that adding on an extra living room is a great way to accomplish this goal. And the truth is, it really is a great way. Adding any type of living space to your home is an excellent way to add to its value, including bedrooms, bathrooms, and living room especially. It is of the utmost importance that you make sure the extra living room is added onto your home in the right spot, connecting it to a hallway or walkway area that easily accesses other parts of the home. 

Why is adding on a living room of so much value to a home?

People can use a living room for many purposes. From using it as an office or workspace to letting it be an area where the kids can keep their toys, there are multiple purposes that can be customized to meet a family’s specific needs and preferences. If you are looking to use a living room to provide storage space, you can always decorate with storage that is versatile. Take for example a living room ottoman that has the ability to store DVDs or kid’s toys. Or a couch that opens up and allows you to store items. Almost any type of furniture piece can be used for multiple purposes, you just have to research your options. 

As you can see, adding on an extra living room to your home is an excellent way to add value to your home, so contact JC Demo Insurance Group today to learn more about home value and home insurance in the Matthews, NC area.