Home renovations can significantly enhance both the value and enjoyment of a property, but they can also affect how your home insurance should be arranged. For high value homes in particular, it is important that any changes are reflected within your insurance cover.

One of the key considerations is the impact renovations can have on the overall value of the property. Extensions, structural changes and high-quality finishes can all increase rebuild costs. If these changes are not accounted for, there is a risk that the property may be underinsured.

There are also additional risks to consider while renovation work is being carried out. Properties undergoing building works may be more exposed to issues such as theft, accidental damage or structural complications. Standard home insurance policies may not always provide adequate cover during these periods, particularly for more extensive projects.

It is therefore important to inform your broker before any work begins. This allows cover to be reviewed and, where necessary, adjusted to ensure the property remains appropriately protected throughout the renovation process.

Renovations can have a significant impact on the buildings insurance cover. Fixtures and fittings form part of the structure, and improvements such as extensions, bespoke kitchens, home automation systems or high-end materials can all increase the rebuild value of the property. Following any works, it is important to review the buildings sum insured and, ideally, obtain a professional rebuild valuation to ensure the cover reflects any changes.

Separately, renovations may also lead to changes in contents. New furnishings or purchases can increase the overall value of contents, so it is important to review this aspect of the policy to ensure it remains appropriate.

For high net worth properties, where renovation projects are often more complex or involve higher value works, a tailored approach to insurance is essential. This may include arranging specialist renovation cover or adapting existing policies to reflect the changing risk.

Working with a broker can help ensure the right approach is taken. At W B Baxter, we take the time to understand the scope of the work and how it may affect both the property and the insurance arrangements. This ensures that cover remains suitable before, during and after the project.

Once renovations are complete, it is important to review the overall insurance arrangements and update the policy where necessary. This includes ensuring the buildings cover reflects any changes to the property and that contents cover remains aligned with current values.

Renovations can add significant value to a home, but without the right insurance considerations in place, they can also introduce unnecessary risk. A proactive approach helps ensure your home remains properly protected at every stage.