Winter is almost over, and that means spring is right around the corner. The time is right to start planning your spring home project. You have an old deck that you would love to replace so you can enjoy those nice, warm summer evenings. But you don’t want to just replace it—your vision is to have more room for your barbeque grill and some nice other frills that you and your family can enjoy. How do you go about making that new deck happen?
Building a new deck (or doing any other home project) takes careful planning. You want to make sure you get exactly what you want, and putting some extra care into “laying the groundwork” can result in long-lasting effects for your project, not to mention some great financial benefits. Read on for how to get going on your planning.
Any project starts with research. The internet provides limitless resources that you can tap into. You can find a wealth of information on your project and also great comments and experiences from people just like you. Next, check out a local home and garden show. If you’re in the Brookfield, WI area, check out the Realtors Home & Garden Show that takes place in March. You can meet vendors and experts that can answer your questions directly and give you the best possible information for your project.
And don’t forget your insurance. Your home project is an investment and you want to get the proper coverage to protect it. You’ll want to contact your agent and share your home project idea to get important feedback. Here are three spring home project insurance considerations to keep in mind:
Make Sure your Project is Covered
Homeowners insurance covers your home and other structures on your property, but not necessarily the land itself. Gardens and landscaping make your home look appealing, but they may not be covered. There are exceptions, however, so check with your agent and get the specifics of your policy.
“Other Structures” or “Special Structures”
Most projects are covered by your policy as Coverage B – Other Structures. These are buildings that are not your actual house, such as garages, sheds, fences, and decks. Special Structures, on the other hand, are additions that may require some special underwriting considerations for your insurance company. Pools or any structures that involve fire (think outdoor fireplaces or fire pits) are considered Special Structures and may require you to have certain features to be properly covered. It’s very important to speak with your agent when planning such projects.
Be sure to keep your coverage limits in mind. Usually, other structures are covered for 10% of the amount your house is covered for. So if your house is covered for $200,000, you have $20,000 in coverage for your other structures. This may or may not be enough. A garage is bigger & more costly than a deck, so you may need additional coverage for adequate protection. Your agent can help you purchase more coverage if it’s necessary.
Talk to your Agent
A lot of money and effort is going to go into that home project you’re planning for the spring. You want it to be what you envision it to be—and you want to protect it so you and your family can enjoy it for years to come. Plan it out thoroughly and keep your insurance coverage in mind. Consult your insurance agent about your current policy and find out what’s recommended for going ahead on your project.