How Renovations Affect Your Insurance Premiums
Some projects reduce your risk, while others increase it. Andre Graham, Operations Manager at Klick Insurance Underwriters, explains:
“Typically, the more recent the updates to plumbing, roofing, electrical or heating, the better the pricing for the overall risk.”
Renovations That Can Improve Pricing, Coverage & Reduce Risks
- Roof replacement — favoured in hail-prone cities like Calgary.
- Updated plumbing, wiring, or heating systems — lower fire & water-damage risks.
- Backwater valves & sump pumps — improve eligibility for sewer-backup protection.
- Alarm/security systems — monitored alarms and cameras reduce theft risk.
- Modern HVAC systems — insurer-preferred for efficiency & safety.
- New windows & doors — weather-rated options improve storm resilience.
- Fire-resistant materials — metal roofs, fire-rated siding, sprinklers.
Renovations That Often Increase Premiums
- Custom kitchens & bathrooms — raise rebuild costs.
- Swimming pools or hot tubs — higher liability exposure.
- Home-based businesses — may require commercial liability coverage.
- Additions/finished basements — increase rebuild value & square footage.
- Luxury finishes or imported materials — costlier to replace.
- Rental suites/basement apartments — added liability, may need landlord coverage.
- Wood stoves or fireplaces — elevated fire risk, often need endorsements.
- Solar panels (improperly installed) & DIY EV chargers — insurers may require proof of certified install.
Vacating Your Home During a Reno?
If you'll be away for more than 30 days, your home could be considered unoccupied — raising the risk of theft, fire or vandalism. Ask your broker about vacancy permits or unoccupied dwelling insurance to stay covered.
Does Home Insurance Cover Renovation Work?
Not automatically. If your renovation involves major structural work, your insurer may require:
- A Builder’s Risk policy (also called Course of Construction)
- Proof that contractors carry liability insurance and WSIB
- Disclosure of DIY renovations — otherwise a claim could be denied
How MIB Helps Protect Your Renovated Home
At My Insurance Broker, we serve clients across Ontario and Alberta helping homeowners protect what they’ve worked hard to improve. We:
- Assess your home’s post-renovation value
- Update liability and replacement coverage
- Compare top insurer quotes
- Advocate for fair pricing and added protection where eligible
Final Words
Don't let a renovation undermine your protection. Whether it’s a kitchen in Mississauga, a laneway suite in Edmonton, or a new roof in Vaughan, your home insurance must keep up with the changes. By looping your broker in early, you:
- Avoid being underinsured
- Gain clarity on costs and coverage
- Keep your home, family, and investment protected