Three Renovations That Can Impact Your Homeowner’s Insurance

Renovating your Bloomfield, NJ home is an extremely exciting event, as you get the chance to customize your home based on your personality and preferences. However, before you get started with the renovation, you need to take a few things into consideration. This includes how the renovations may affect your homeowner’s insurance. This is where E.S.T.I.R. Inc. comes in. We can help ensure you are adequately covered moving forward. 

Adding an Addition

Additional space is necessary for a number of instances, such as for a business venture or a new member of the family. When you add a room to your home, the square footage of the house will increase. The same is true of the replacement value of the property.

As a result, if a disaster were to strike, your home insurance policy would need to have already been updated with this new addition. This ensures that the full value of your property is taken into consideration.

Replacing the Roof

While it can be rather expensive to undergo a roof replacement project, it may be able to help you save on your insurance premiums. A new roof will offer more structural integrity and protection against the elements. The updated roof is likely to hold up better in the event of a fire, inclement weather, or other peril.

Because the roof is improved, your insurance company needs to know to ensure the proper value of the home is accounted for and to offer potential discounts for the renovation.

Installing a Pool

Swimming pools can offer relaxation, entertainment, and more. However, insurance companies view them as a liability risk. This is because you are likely to be financially responsible for expenses incurred as a result of someone injuring themselves while utilizing your swimming pool.

Therefore, it is important to speak to your insurance agent to find out what kind of impact a swimming pool can have on your home insurance. 

If you plan on partaking in any home renovations in Bloomfield, NJ, speak to an agent at E.S.T.I.R. Inc. for assistance in adjusting your home insurance policy. 

Why You Need Comprehensive Auto Insurance

When searching for automobile insurance, you may be confused by all of the terms, and what they cover. The most basic plans only cover liability, which will cover medical bills. It doesn’t cover any repairs to your vehicles.

If you want more protection, you may want comprehensive automobile insurance. Here are some reasons why you should. 

Your loan may require it. If you have to take a loan out to purchase your vehicle, they may require comprehensive insurance. They want to make sure that they aren’t going to lose money on your vehicle if something happens to it. 

You may want to have comprehensive insurance if you can’t afford to replace your vehicle. If your vehicle is a high-end vehicle, you are going to want comprehensive insurance, so you don’t have to replace it if something happens. 

Comprehensive insurance covers damage that may occur that is not due to a car accident. It covers damage due to vandalism, theft, and even rodents. It covers weather damage, such as hail, floods, and fire. If you live in an area where accidents with deer are common, you may want comprehensive insurance to cover the cost of repairs. 

If you are trying to figure out how much insurance you need, you may not have a choice. Your lender may require comprehensive insurance. You may also want to think about it if your vehicle is more expensive than most. You aren’t going to want to have to take out a loan in order to fix your vehicle. 

If you want to make sure that you are fully protected, don’t hesitate to contact us today at E.S.T.I.R. Inc. in Bloomfield, NJ.