Basement Remodeling Improve Don’t Move By Fixing Up the Basement | Page 14

YOUR INSURANCE PREMIUMS WILL GO UP
During the renovation it is likely that the insurance premiums will rise to cover the additional risk associated
with the ongoing work. However after the renovation work is complete the premiums may well be adjusted to
cover the addition value of the property. After all, the insurance company will now have to fund the
replacement of a more valuable and larger property. Therefore you can expect the premiums to rise depending
on the extra value that has been added to the property.