Home Improvements and Your Home Insurance
There’s a lot of planning that goes into renovating and remodeling your home. Most home improvements take a lot of research; finding the right designers, architects, contractors, sub-contractors, and so many other details. You do your due diligence and ask everyone you know, friends, family, the Internet, the nice folks at Home Depot, your mail-carrier, strangers at the grocery store. It seems like everyone in town knows you’re doing some reconstruction. Everyone except your insurance provider.
Update your home insurance policy to include improvements and additions
Whenever you are making changes to your life, whether it’s a new kitchen or adding another wing on your mansion, it’s wise to let you insurance agent know about your plans. Your home insurance policy may already cover small improvements, but more often than not you’ll need to update your policy to reflect the new changes or additions to your home.
Make sure all of your contractors are insured
Now that you’ve talked to your insurance agent, and you have the right insurance coverage, it’s time to look into the companies who will be doing the remodeling. If you hire a general contractor to oversee the entire project, make sure that they have the proper insurance to cover themselves and their workers in case of accidents or injuries on the job.
If that GC is going to hire specialized sub-contractors like roofers, painters, plumbers, electricians, environmental engineers, etc., then be sure to check everyone’s coverage. You can even take their insurance information to your insurance agent who can help you determine if the coverage is appropriate.
Get liability insurance for home construction or remodeling projects
If you’re only hiring professionals for the heavy lifting, and you and your friends and family are going to take care of little things here and there, make sure your liability coverage is up to date. No matter how small or easy the project, there are always risks of injuries on any home improvement project. In fact, non-professionals seem to take more risks when working around the home. A professional painter is going to take their time and handle the ladder with care, whereas you may perch yourself with one foot on the counter, one foot on the ladder you were too lazy to move, and you reach for that last unpainted spot of the wall.
Home and liability insurance, Colorado
Take proper safety precautions with any reconstruction project and make sure you have the right insurance coverage in case of accidents or injuries.