Home Renos and Your Insurance

It’s a common misconception that a standard home insurance policy covers you during renovations. This is not always true. Minor renovations are often covered. However, major renovations are not typically covered by a standard home insurance policy.

Contact Your Broker First

As soon as you decide to start a home renovation, make upgrades to your home, or to build a home, you need to contact your insurance broker. Your broker can help you determine if additional coverage is needed while your renovation or build takes place. Since most policies contain some exclusions or certain requirements with respect to renovations or construction, it is in your best interest to always inform your broker to avoid a claim being denied in the event of a loss.

Your home is likely one of your biggest assets and making sure it is properly covered if a loss occurs is our top priority.  Depending on the nature of your renovation, your premium could rise since additional coverage will be required, or rates could be reduced if you’re updating old for new, so it’s always best to keep your broker informed.

Some renovations that require more coverage and can increase your rates may include:

  • Putting an addition on your home
  • Finishing your basement
  • Putting in a pool
  • Constructing an additional structure on your property (ie. Garage, shed, gazebo)
  • Putting in a deck or patio
  • Upgrading your kitchen or bathrooms

Some renovations that can help reduce your premium include:

  • Putting in an alarm system monitoring for burglary, fire, temperature changes, or water damage
  • Updating your plumbing, wiring, hot water tank, furnace
  • Replacing your roof
  • Installing a sump pump or back water valve

Hiring Contractors

Another important factor to consider when renovating is the coverage of the contractors performing the work. If a person is injured during the renovation, you could be held liable.

Remember, it is your right to ask for your contractor’s proof of insurance and WSIB registration.

Electrical Contractors

If you are hiring an Electrician, ensure you obtain their Electrical Safety Authority (ESA)/Electrical Contractor Registration Agency (ECRA) licence number. This same number should appear on all documentation provided to you throughout your renovation.

Keep Your Insurer Updated

Unfortunately, home renovations don’t always go as expected. If your renovation plans change at any point, contact your broker to ensure your coverage is continued or adapted, as needed.

Selling Your Home

Renovating a new home and selling your old home? Your broker can help guide you through the required steps.

It’s important to remember that you need to keep your existing home insured until its sale has closed. This means, you may need to carry multiple policies at one time.

Contact your broker today to learn more.


Mass Insurance Brokers

59 Main Street, North Markham, Ontario, L3P 1X7

Monday to Friday 9am to 5pm