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5 renovations to increase your home's value, and their impact on your home insurance rate

July 27, 2022
3 mins
A young couple look a paint swatches for their new home

Remodelling your house can add some modern flair to your surroundings and help you personalize your living space. But strategic renovations can also help increase your home’s value, making it more attractive to buyers who might be interested in purchasing it — and in some cases, decrease your home insurance rate.


Despite what people say, we tend to judge a book by its cover. When it comes to your home, landscaping is a crucial part of making a great first impression. Plus, a gorgeous garden is one of the least expensive and easiest ways to increase the appeal of your home.

Some value-adding landscaping projects include:

  • Adding shrubs, trees, and flowers
  • Developing a green, manicured lawn
  • Installing walls, walkways, or water features

Since this work takes place outside, you won’t be exiled from portions of your home, unlike some remodelling projects.

Replace your roof

Your roof protects your home from weather, and it can also increase your home’s value. Replacing your roof can cost anywhere from around $5,000 to $15,000. The expense will depend on the size of your home and the materials used. However, usually up to 70% of the cost will be added to your home’s value.

The good news is that a well-maintained or new roof can help lower your home insurance premium, since it reduces the likelihood of needing to make a claim.

Install a steel entry door

Replacing your front door is one of the home renovations that will give you the most bang for your buck. If you’re feeling confident, you can get a steel entry door and install it yourself, or you can hire a professional. New, high-quality front doors can add value to your home and enhance the appeal of your entranceway.

A steel entry door can also make it harder for burglars to enter your home. Ask your home insurance provider if this deterrent might help lower your insurance rate.

Upgrade your garage door

The right garage door can safeguard your vehicle from the elements, but it can also boost your home’s value. Installing a new garage door can run you between $785 and $3,700, depending on whether you opt for a single- or double-door garage. However, doing so can boost the market value of your house.

Insulate your home

Perhaps the best return on investment comes from insulating your home. The cost to blow in attic insulation varies based on the size of your home. Despite the initial cost, you’ll reap the rewards of your investment both while you live there (as you save on heating costs) and when it comes time to sell.

How do renovations affect home insurance?

When you remodel your home, make sure to tell your home insurance company about the renovation(s) in advance to ensure you’re properly covered.

When undertaking a new home renovation project, make sure to comply with any relevant building codes. Otherwise, your home insurance may not protect you in the event of a loss.

Depending on the renovation, your insurance premium may increase. If your home now costs more to replace, your insurance provider will reflect that cost in your premium.

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The RATESDOTCA editorial team are experienced writers focused on sharing stories and bringing you the latest news in insurance and personal finance. Our goal is to provide Canadians with the information and resources they need to make better insurance and financial decisions.

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