I’m thinking about changing the exterior finish of my home and I’m worried about how it might affect my insurance. I live in San Diego, California, in a typical 1960s neighborhood, and my property backs up to a small canyon. Right now, my home is covered in stucco, with some small brick accents on the front side away from the canyon. I’m considering replacing the stucco and brick on the front with Hardie cement board siding, which has the same fire rating as the stucco I’d be removing.
I’ve heard some scary stories about people getting dropped by their insurance without notice and struggling to find new coverage. Should I be worried about my insurance policy being affected by this exterior change? What steps should I take?
It’s a valid concern to think about how changes to your home’s exterior might affect your insurance coverage. Here are a few points to consider:
Fire Ratings and Building Codes: Since you mentioned that the new Hardie cement board siding will have the same fire-rating as the existing stucco, this is a positive factor. Insurance companies typically look favorably on materials that meet high fire resistance standards, especially in areas prone to wildfires.
Notify Your Insurance Company: It’s a good practice to inform your insurance company before making significant changes to your home. They can provide clarity on how the changes might affect your policy and help you understand if your coverage will remain in place.
Check with Your Local Agents: Speak with your insurance agent or broker about your plans. They can guide you through the potential implications and may be aware of policies from other insurers that could offer coverage specifically aligned with your renovations.
Policy Requirements: Review your policy documentation or consult with your insurer regarding any specific requirements for exterior materials. Some policies have stipulations about building materials in certain areas.
Home Assessment: In some cases, your home may be re-evaluated after significant changes are made, which can affect your premiums based on the perceived risk.
Document Your Changes: When you do proceed with the renovation, keep records of the materials used and any permits acquired, as this documentation may be helpful if your insurance company ever asks for it.
Explore New Insurance Options: In the event that your current insurer does drop you, it may be beneficial to explore different insurance options in advance. Rates and coverage can vary widely between companies.
Ultimately, taking proactive steps to communicate with your insurer and gathering information about the potential impacts of your renovation will give you peace of mind. Good luck with your renovation project!