Spring through fall is the busiest time of year for remodeling. Remodeling and construction season is ramping up in Minneapolis. The cost of building materials and labor is increasing.  It is a big financial commitment to do home renovations, but a few of them could save you money on your homeowners. 

If you are planning on doing an extensive remodel or just some upgrades to the home, talk to your independent insurance agent. You might be eligible for a discount on your home insurance and you will want your agent to review your coverages.

Most insurance carriers will extend a discount for upgrades to the following:

• Roof- A new roof discount could save a few hundred dollars on your home insurance.
• HVAC (Heating Vents and Air Conditioning)- The main discount will come from updating your furnace.
• Electrical- Updates on older homes will see the most cost savings. Some insurance carriers will require that all wiring be updated in order to extend a discount.
• Plumbing- Upgrades in plumbing will also effect older homes more significantly. Not all insurance carriers will offer a partial plumbing update, so talk to your agent to see if you qualify.

Not all home renovations will qualify for a discount. You may also be increasing the cost to rebuild the home, so it is important to talk to your insurance agent.