IBC reminds Atlantic policyholders to inform their insurers about home renovations

The Insurance Bureau of Canada (IBC) is reminding homeowners to inform their insurers about their renovation plans, adding that many homeowners do not consider adding more liability to their coverage when doing renovations or upgrades.
“Consider outdoor cosmetic changes, like adding a pool,” Marlene Landry, IBC’s manager of consumer and industry relations for the Atlantic, is quoted as saying in an interview with the ChronicleHerald.
“Not only do you need to make sure you are following any bylaws in your municipality, but [also] how it can increase your exposure to what you could be sued for.”
Landry told the ChronicleHerald that many homeowners don’t think about adding more liability to their coverage when contemplating renovations. But in the pool example, additional liability would help cover a situation, for example, when the new pool splits and floods the property next door.
Certainly, the insurer should be aware of all renovations ancillary to main projects.
“Maybe there is $20,000 worth of new decking surrounding that pool,” Landry told the ChronicleHerald. “If your insurance company doesn’t know about it, you won’t receive a dime for it if something were to destroy your home, like a fire.”