The most compelling reason to make a claim on your home insurance when you’re doing the work yourself is so that you’re reimbursed for the damage. The cost of home repairs can escalate quickly, depending on the extent of damage, which is why we have homeowner’s insurance in the first place.   Most standard home insurance policies reimburse you for the actual cash value, which is based on what it would cost to buy a product in similar condition. You may be able to purchase a guaranteed replacement cost endorsement to cover the depreciation value of your home and contents. This would ensure you receive a similar product but one that is brand new. You will likely pay higher premiums for this type of policy.  Also keep in mind that just because you might have, say, $50,000 worth of flood protection, doesn’t mean you’ll get $50,000 from your insurance company if the damage only works out to $20,000. Your insurance provider will only cover actual damages, not the maximum coverage amount.