Home renovation: why Quebec home insurance matters

Hello everyone. Summer has arrived and the renovation season has begun. If you are updating your property, Quebec home insurance must be your top priority. Definitely inform your insurance company about the work. The scale of the renovation does not matter. In many cases this simple step will allow you to save a lot on premiums.

How renovation affects Quebec home insurance

Insurers often lower the cost of services when you upgrade equipment. You can replace the old water heater. You can also install an alarm system or security cameras. The savings will become even greater when replacing the roof, electrical wiring, or windows. It is useful to update the plumbing or add a backwater valve. All these improvements significantly reduce the risks of accidents.

Sometimes the cost of your policy can grow. This happens when expanding the living space. Building a floor, a garage, or a terrace leads to an increase in price.

The same applies to condominiums. Remember that proper Quebec home insurance will become more expensive after laying floors made of exotic wood. The price is affected by new expensive faucets or designer cabinets. In any case inform the company about the nature of the work before it begins. This will protect you in the event of a fire or flooding.

Important details and useful tips

The municipal property assessment does not affect the calculation of the reconstruction cost. The insurer takes other factors into account. It considers the year of construction, major renovations, and the size of the building. The cost of labor, materials, and inflation is also important.

Here are my main tips for owners:

✔︎ Are you doing the renovation on your own? Find out in advance about injury coverage for family members or hired workers.

✔︎ Do you want to install a pool or a fireplace? Notify the insurer about this. Otherwise the company will refuse you compensation in an insurance case.

✔︎ Are you buying an apartment with renovations from past owners? Be sure to find out the exact cost of these works. Otherwise the insurer will cover the damage only in the amount of the original cost of the property.

All these hidden details will save you from unnecessary risk. The advice of an experienced realtor in Montreal will insure you against financial losses. I always work with proven construction contractors and reliable insurance companies.

If you plan to buy or sell real estate, contact me. I will help you understand current trends and find the best property. Also I will ensure the full legal security of your transaction under the laws of Quebec.

Denis Kornienko. Your real estate expert in Montreal. Helping families build a secure future in Canada.