Remodeling? Be sure to notify your insurance company.
Planning a home remodeling or renovation project can be exciting and nerve-wracking at the same time. There’s so much to do: arrange the financing, choose the contractor, and make endless decorating decisions. One task that may not be on your list, however, is contacting your insurance agent. Make sure that you and your property are adequately protected during the renovation process.
Adjustments to Your Existing Policy
There’s no such thing as home renovation insurance per se, but having your home renovated can change your risk exposures. Before you start the project, it’s a good idea to talk to your insurance company. You may need to:
- Update the coverage limit of your policy overall. If the renovation includes an addition or upgraded appliances, you may need to update the dwelling and personal property coverage limit on your policy to ensure it will protect the new version of your home.
- Update your medical expenses coverage limit. You may not think that anything bad will occur during a DIY project with help from friends and family, but accidents happen. If this is the case, you may want to talk to your agent about increasing the limit of the medical expenses part of your policy. That way, if you or your helpers sustain an injury, you know you have the right protection in place.
Verify Your Contractor Has Insurance
Before a contractor breaks ground, you will want to ensure he or she is covered. Ask to see a copy of their insurance policies. The contractor should have both a commercial business/general liability policy, as well as workers’ compensation for other members. It is important that the workers remodeling your home are adequately insured so that they do not end up suing you if they get injured on the job.
To protect your home throughout the entire project, visit the team at C.V. Mason Insurance Agency. Our home insurance policies work to protect residents in Bristol and neighboring cities in Connecticut. Give our experts a call for more information.