When you decide to extend your home, it is essential to consider the impact this may have on your home insurance. Indeed, house extensions can change the value of your property and therefore influence the amount of cover needed to protect your investment. In this article, we’ll explore how insurers take home extensions into account when assessing your home insurance policy.
The different types of house extensions
Before you begin, it is important to understand the different types of house extensions that exist:
- Horizontal extension: it involves the addition of a new room or space at ground level, usually by building a structure adjacent to the existing house.
- Vertical extension: this type of extension involves adding an extra floor to your house, for example by converting an attic or raising the roof.
- Interior expansion: this concerns the modification of the internal distribution of your home, such as tearing down partitions or creating new rooms.
- Exterior layout: it involves improving your property by adding features such as a swimming pool, garage, conservatory or landscaped garden.
The impacts of house extensions on your home insurance
House extensions can have several consequences on your home insurance contract:
- Increase in the value of the property: by enlarging your home, you generally increase its value on the real estate market. It is therefore important to inform your insurer of this work so that he can adjust the sum insured and thus avoid possible underinsurance in the event of a claim.
- Change in risks: some house extensions may result in a change in the risks covered by your home insurance. For example, if you add a swimming pool, this may increase the risk of home accidents or liability. It is essential to communicate these changes to your insurer to ensure adequate coverage.
- Modification of guarantees: depending on the scale and nature of the work, your insurer may decide to adapt the guarantees included in your home insurance contract. This may result in an increase or decrease in prices, depending on the new risks associated with the extension. Do not hesitate to negotiate with your insurer to maintain guarantees at the best price.
How to inform your insurer of your extension work?
In order to take house extensions into account in your home insurance, it is essential to inform your insurer as soon as possible. Here are some steps to follow to make this process easier:
- Contact your insurer before work begins to discuss your plans and obtain their agreement on future modifications.
- Document all stages of the work, including plans and quotes, and keep them in a dedicated file.
- Once the work is completed, provide your insurer with all the documents relating to the extension (building permits, certificates of conformity, etc.) so that they can adjust the sum insured and guarantees accordingly.
- If necessary, request a reassessment of your home insurance policy to ensure that your new extension is properly covered.
House extensions and multi-risk home contracts
Most home insurance is designed in the form of comprehensive contracts. These contracts offer comprehensive coverage tailored to the needs of individual home owners. The guarantees included in these contracts may be modified depending on the house extensions carried out:
- Fire guarantee: This warranty covers damage caused by fire, explosion or lightning. House extensions can increase the living space and therefore the value of the property to be insured in the event of fire.
- Water damage guarantee: it covers damage caused by water leaks or infiltration. If you are adding a bathroom or kitchen to your extension, it is important to adjust this guarantee accordingly.
- Theft and vandalism guarantee: it covers damage caused by a burglary or an act of vandalism. House extensions can increase the risk of these types of events, especially if they include additional access to the exterior (door, window, etc.).
- Civil liability guarantee: it covers material damage or bodily injury caused to third parties in the context of private life. Home extensions can impact this warranty, particularly if they add potentially dangerous features such as a swimming pool or trampoline.
In conclusion, it is essential to understand how your home insurance takes into account house extensions to ensure optimal protection for your property. Do not hesitate to discuss with your insurer to adjust your contract according to your work and thus guarantee your peace of mind in the face of life’s ups and downs.
Choosing the right home insurance contract based on the extension of your house
For choose the right home insurance plan, you must take into account several criteria. Indeed, making an extension to your house will most certainly increase the costs linked to your contract since you will increase the surface area of your home.
Allianz, for example, can offer a suitable contract at a very attractive price for you. It is necessary to contact the insurance company directly to create a quote, and thus get an idea of the price.. Make quotes from several insurers to do a comparative study of prices, but also the conditions offered.
In this formula, pay attention to the different conditions of subscription to the formula. Certain situations may not be taken into account by the insurance and therefore, this may give you some surprises during your subscription. The deductibles, the guarantees offered, but also the compensation ceilings are important.
You see, if you decide to make an extension to your house, you must at all costs adapt your home insurance to these extensions so as not to take any risk if a problem is reported with your home.
