How to Adjust Homeowner’s Policy for Home Improvements

Having a home in Matthews, NC comes with plenty of benefits, but it also binds you with responsibility. One of those responsibilities is homeowners insurance. While you’ll want to enjoy the freedom of homeownership and all of the changes you can make to your house, you should pause to consider how those changes will impact your insurance. The JC Demo Insurance Group has put together this simple guide to help you with expectations.

Changes to Property Value

Typically speaking, major home renovations will increase the value of the property. Not all changes are equal, though. Major floor plan remodels that open space or even create new rooms can add thousands to the value of a home. Big changes to the kitchen or bathrooms also yield hefty value returns, especially if you replace major appliances or fixtures. The bottom line is that these improvements may require a new appraisal to make sure your policy is covering the new value of your home.

Increased Liability

The most fun add-ons to a house are also usually the riskiest. The easiest example is installing a swimming pool. It will certainly add value that should be appraised, but it also puts you at a greater liability risk. On average, new pools can increase your liability risks by a factor of five. This holds true for other fun additions that come with risk.

Premium Savers

Let’s start with a disclaimer: every policy is unique, so the chance for saving on insurance premiums will vary case by case. That said, there are some upgrades that often do lower the price of your insurance. The biggest of them all is getting a new roof. The roof is the part of the house that offers the most protection from weather related damage, and many policies will offer a discount for improvements in this area. Smaller savings can sometimes be found with security improvements and major upgrades that better protect your house from damage.

By all means, make your Matthews, NC, home the place you dream it could be. Just don’t forget about insurance along the way. Talk to your JC Demo Insurance Group agent before you dive into a project, and it can save you headaches and uncertainty in the long run.


Misconceptions About Auto Insurance You Need to Forget

Auto insurance is one of those things that people think they know all about. Many of the things that people think are true about auto insurance, however, are myths in disguise. To help you better understand what is true and what is false, JC Demo Insurance Group, serving Matthews, NC, has developed a list of misconceptions you need to know the truth behind. 

  • Older drivers pay more in insurance. You may think that declining sight and poorer reaction times would result in higher insurance rated but the opposite is true. Older drivers are seen as more mature drivers to insurance companies so they end up paying less for their premiums. Younger drivers actually end up paying more. In fact, there are even some additional discounts for drivers over the age of 55.
  • Red cars cost more to insure. While this is a common myth, it could not be further from the truth. The color of the car is never even taken into consideration. Instead, companies look at the age of the vehicle, the make, the model, and the body style. They also look at the driving history, age, and credit score of the driver. Since the color of the vehicle is not even taken into consideration, you should never limit yourself or stop yourself from purchasing a vehicle in the color that you want. 

Whether or not you already have an auto insurance policy, it is worth it to reach out to JC Demo Insurance Group, serving Matthews, NC. They can run you a quote for auto insurance that will meet your budget needs as well as the minimum required in the state. If you do have a policy, they can take a look at your current one to ensure there are no gaps in coverage.