Hudson Valley Agents Blog

A New York home insurance policy is designed to cover residents for the cost of property damage and loss under specific circumstances. To ensure you are adequately protected, you need to consider the value of your home, the square footage, and how much it would cost to recreate your home after a catastrophe. Many people neglect to add their unfinished basements into the equation. Leaving these spaces incomplete is a waste. Imagine what you could do with a little extra room.

•    Home theaters are becoming very popular. The lack of natural light that characterize many basements can help ensure you will not have to deal with a glare on the screen, no matter where you sit.

•    Turning the space into a giant playroom could make you popular - and with all the toys, arts and crafts, and video games downstairs, there will be less noise and mess in the rest of the house.

•    Many people plan for the future by adding a basement apartment to their home. This gives them the opportunity to take on a boarder and make the monthly mortgage payments just a bit easier. Separate apartments are also nice for when a family member visits or moves in.

After you drywall and decorate your basement, be sure to add additional coverage to your New York home insurance if the alterations have increased the likely cost of rebuilding your home. Have you added additional furnishing to your basement area? Your contents coverage and home inventory will need to be updated too.
 

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