Updating a condo with new flooring, a remodeled kitchen, or upgraded countertops is a great way to increase comfort and value. What many owners don’t realize is that these improvements don’t automatically show up in their insurance coverage. Redden Agency in Duncan, OK works with condo owners who are often surprised to learn that a policy from before their renovation may not reflect what’s actually inside their unit today.<\/p>\n
A condo insurance policy, often called an HO-6 policy, is typically written based on the interior finishes and features that existed when the policy was first purchased. Basic builder-grade flooring and cabinets require far less to replace than upgraded hardwood floors or custom cabinetry. If coverage limits aren’t updated after a renovation, a claim could leave an owner covering the difference out of pocket.<\/p>\n
Condo insurance generally covers the interior components of a unit that an owner is responsible for, such as flooring, cabinetry, countertops, fixtures, and built-in appliances. When these elements are upgraded, their replacement cost increases, but the policy doesn’t adjust on its own. Updating coverage limits after a renovation ensures the actual value of these improvements is reflected in the policy.<\/p>\n
The best time to review condo insurance is shortly after a renovation is completed, while receipts, permits, and contractor details are still easy to gather. This documentation helps confirm updated replacement costs and supports a smoother claims process if it’s ever needed. Redden Agency helps condo owners throughout Duncan, OK make sure their coverage keeps pace with their home’s actual value. To learn more, visit our home insurance page<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Renovations Add Value, But Do They Add Coverage? Updating a condo with new flooring, a remodeled kitchen, or upgraded countertops is a great way to increase comfort and value. What many owners don’t realize is that these improvements don’t automatically show up in their insurance coverage. Redden Agency in Duncan, OK works with condo owners […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[18,13,14],"class_list":["post-20","post","type-post","status-publish","format-standard","hentry","category-condo-insurance","tag-condo-insurance","tag-duncan","tag-redden-agency"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t