Grain Dealers Mutual Insurance Company

Home Improvements

  Home Improvements are a very important and essential part of home ownership. It is also important for your insurance policy as well! Insurance companies use many different rating tools to qualify a home for coverage. One tool is field underwriting. This is where the insurance agent goes to your house to view the shape that it is in and any potential hazards on the property. An improperly cared for home can cause your rates to increase and it may even be necessary to place the dwelling in a substandard market. This means you are not receiving preferred rates.

   Generally if a home is well maintained, instances of claims are less likely to happen. Of course, there are always unforeseen claims and weather related instances that cannot be rated for or found during a simple inspection.

   When performing home improvements, make sure you are thorough and safe. If you are paying someone else to do the work, make sure to check if they are licensed, bonded, and insured. The contractor should carry a certificate with them to prove that they have these coverages in force. Also check with the Better Business Bureau to see if any complaints have been filed. Call your insurance agent to reassess your home. You may need to add more coverage to your home if you are making major improvements.