As we officially enter our spring season many homeowners start to think about home remodeling!
There are no questions that remodeling a home is exciting! For many of our personal lines clients it can be the second biggest expense of their lives after the purchase of their home. So we like to review the insurance side of their project to help protect their investment. Here are a few things we may check:
- Obtain certificates of insurance from any contractors that work at your home. When a contractor is working at your home there are risks involved. They may damage your contents or home or may even be injured while performing work at your home. We recommend that you obtain certificates of insurance that indicate your contractor has both general liability and workers compensation insurance.
- Review the limit of insurance on your home. If you are spending $100,000 on an addition chance are you should also increase the amount of insurance you have selected for your home. Your home limit of insurance should be enough to rebuild your home!
- Alarm systems. If you are installing a security alarm, please let us know. With documentation of your security system we may obtain additional credits on your home insurance pricing.
- Make certain your building is safely secured during renovations. Unfortunately thefts are common during home renovations when contractors are coming and going from your home.
If you plan to move out of your home during renovations, this should be reviewed with your agent. Home insurance policies are designed for you when you are residing in the home. If you do need to relocate during your renovation project, you may need to change the type of insurance policy you have on your house. We want to make sure your claims are covered at claim time and to do that we need to know what is happening on larger renovation projects.
Questions about your home renovations plans and insurance? We would love to hear them!
Herlihy Group – Here to Help!