Why Your Insurance Company Needs to Know About Home Renovations and Pool Installations

Updated:
July 16, 2026

Summer is one of the busiest times of year for home improvement projects. Whether you're updating a kitchen, finishing a basement, building a deck, or installing a swimming pool, these investments can add value and enjoyment to your property.

What many homeowners don't realize is that significant changes to a home can also affect their insurance coverage. Before starting a renovation or adding a pool, it's worth speaking with your insurance advisor to ensure your policy reflects the changes being made.

Why Renovations Can Affect Your Insurance Coverage

Home renovations often increase the value of a property. If your coverage limits are based on the home's previous value, there may be a gap between what your policy covers and what it would cost to repair or rebuild after a loss.

Certain projects can also introduce temporary risks during construction, especially when contractors, equipment, or structural changes are involved.

Common renovations that may impact insurance include:

  • Kitchen remodels
  • Bathroom upgrades
  • Basement finishing projects
  • Home additions
  • Detached garages or workshops
  • Major electrical or plumbing upgrades
  • Roof replacements

Keeping your insurer informed allows your coverage to be reviewed and adjusted if necessary.

Pool Installations Bring New Considerations

A swimming pool can be a great addition to a property, but it also introduces additional liability exposure.

Because pools increase the risk of accidental injury, many insurers want to understand details such as:

  • Pool type and size
  • Fencing and gate systems
  • Safety features
  • Diving boards or slides
  • Seasonal versus permanent installations

These factors can influence how risk is assessed and whether changes to your policy are recommended.

Protecting Your Investment

Home renovations and outdoor upgrades often represent a significant financial investment. Ensuring your insurance coverage keeps pace with those improvements helps protect the money you've put into your property.

It's also important to maintain records of major projects, including:

  • Contractor information
  • Building permits
  • Project costs
  • Photos of completed work

Documentation can be helpful when updating coverage and may simplify future claims discussions.

Planning Ahead Can Help Avoid Surprises

Insurance conversations are often easiest before work begins. A quick review can help identify any adjustments that may be needed and provide peace of mind throughout the project.

The Insurance Bureau of Canada offers helpful information about how home improvements and property changes can affect insurance considerations for homeowners.

Ready to Start Your Next Home Project? 

Before breaking ground on a renovation or installing a new pool, it's worth taking a few minutes to review how those changes could affect your insurance coverage. Keeping your policy up to date can help ensure your home, your investment, and your liability protection evolve alongside your property.

If you're planning renovations or considering a pool installation, request a quote or connect with a Scrivens advisor to review your coverage and explore your options.

FAQs

What is financial advising?

Financial advising involves providing guidance and advice to individuals, families, or businesses to help them make informed decisions about their financial matters. This can include various aspects such as investment planning, retirement planning, tax planning, estate planning, and more. Financial advisors analyze their clients' financial situations, goals, and risk tolerance to create customized strategies that align with their objectives.

Why is financial planning important?

Financial planning is crucial for several reasons:

Goal Achievement: It helps individuals set and achieve financial goals, whether they are short-term, such as buying a home, or long-term, like funding a comfortable retirement.

Risk Management: Financial planning addresses risks by considering insurance, emergency funds, and other protective measures.

Budgeting and Saving: It promotes responsible money management through budgeting and saving, fostering financial stability.

Wealth Building: Effective financial planning can lead to wealth accumulation and the creation of a secure financial future.

Can financial advisors help with debt?

Yes, financial advisors can help with debt management. They can assess your overall financial situation, create a budget, and develop strategies to pay down debt efficiently. They may also negotiate with creditors on your behalf, provide debt consolidation recommendations, and offer guidance on prioritizing and managing debt repayment.

What exactly does a financial advisor do?

The specific responsibilities of a financial advisor can vary, but generally, they:

  1. Conduct a thorough analysis of a client's financial situation, including income, expenses, assets, and liabilities.
  2. Develop personalized financial plans based on the client's goals, risk tolerance, and time horizon.
  3. Provide investment advice and portfolio management services.
  4. Offer guidance on retirement planning, estate planning, tax planning, and insurance.
  5. Monitor and adjust financial plans as needed based on changes in the client's life or market conditions.
  6. Educate clients on financial matters and empower them to make informed decisions.
What is the average fee for a financial advisor?

The fees charged by financial advisors can vary widely based on factors such as the advisor's experience, the services provided, and the region.

Common fee structures include:

Hourly Fees: Advisors charge an hourly rate for their services.
Flat or Fixed Fees: A set fee is charged for specific services or a comprehensive financial plan.
Asset-based Fees: Fees are a percentage of the assets under management (AUM).
Commission-based Fees: Advisors earn commissions on financial products they sell.
Combination of Fees: Advisors may use a combination of the above fee structures.
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It's important to discuss and clarify fee arrangements with a potential financial advisor before engaging in their services.