Summer in Atlantic Canada is when the projects get done.
The deck that’s been on the list for two years is finally finished. The detached garage is framed and closed in. The basement has flooring, drywall, and a bathroom. For a lot of homeowners across Nova Scotia and PEI, August marks the end of a busy building season.
What most people don’t do before moving on is ask a simple question: does my insurance still reflect the home I’m living in?
Why Your Coverage May Not Match Your Home
Your home insurance policy is based on information your insurer had at the time it was last written or renewed. When your home changes, that information becomes outdated, and the gap between what you have and what it would cost to rebuild can become significant.
This is called underinsurance, and it’s one of the most common issues brokers encounter. It doesn’t mean your insurer won’t pay a claim. It means they may not pay enough for one.
The fix is straightforward: tell your broker what changed. In most cases it’s a short conversation that takes care of the problem entirely.
Five Projects Worth Reporting
Not every summer improvement needs a call to your broker. But the following ones generally do, because they affect the replacement value of your home or the structure of your coverage.
New structures: decks, garages, and sheds. Adding a deck raises the cost of rebuilding your home. Adding a detached garage raises it considerably more. Detached structures are typically covered at a percentage of your main dwelling limit under a standard policy, and that default amount often isn’t enough to cover a full-sized garage or workshop. If you built one this summer, it’s worth confirming your limits reflect it.
A finished basement.An unfinished basement and a finished one are very different from an insurance perspective. Once you’ve added flooring, drywall, a bathroom, or a home theatre, the cost to repair or rebuild that space increases substantially. This is especially relevant for water-related claims, which are among the most common in Atlantic Canada.
A heat pump or major electrical upgrade. Heat pumps have become extremely common across Nova Scotia and PEI, and for good reason. But they represent a meaningful change to your home’s mechanical systems. Depending on your policy, this may be worth a quick discussion with your broker, particularly if the installation involved significant electrical work.
A kitchen or bathroom renovation. High-end finishes, custom cabinetry, and upgraded plumbing and electrical all factor into what it would cost to rebuild your home. If your kitchen or bathroom looked very different a few years ago, your insured value may not reflect what you have now.
A new roof. This one can actually work in your favour. A new roof reduces your risk profile in the eyes of most insurers, and depending on the material and the age of your previous roof, it may positively affect your coverage terms or your premium. It’s worth mentioning.
Some Updates Can Improve Your Coverage Terms
It’s easy to assume that telling your broker about improvements will automatically raise your premium. That’s not always the case.
Upgrades like a new roof, a modern electrical panel, or an updated heating system can reduce your risk profile. Some may qualify for better coverage terms or discounts. The only way to find out is to have the conversation.
When Should You Tell Your Broker?
A lot of homeowners plan to mention changes at renewal. In most cases that’s fine. But if a significant change to your property occurs and a loss happens before your broker is aware of it, that gap can complicate a claim.
The practical approach is to report meaningful work when it’s finished, not at renewal, not after something goes wrong. A quick call or email with a description of what was done and roughly what it cost is usually all your broker needs.
Talk to Cluett Before Fall Arrives
At Cluett Insurance, we’ve been helping homeowners across Nova Scotia and PEI keep their coverage current for nearly 50 years. If you finished work on your home this summer, we’re happy to take a look and make sure your policy reflects it.
It’s a short conversation. And it’s a lot easier to have it now than after something happens.
Get a home insurance quote or contact us directly.
Reach out to us today to see Cluett helps!