Renovating your house brings a lot changes to your insurance situation. These changes will apply both during and after the renovation process. To ensure that you're properly covered and also getting the deal you deserve from your insurer, there are a number of factors you should take into consideration.
Ensure the Contractor is Insured
A simple mistake by your contractor or one of their people can change your home renovation into a nightmare. It's important to realize that your regular home insurance coverage might not be applicable during the renovation process. Therefore, it's important to work with an insurer who is properly covered.
Additionally, you won't want to be held liable in case one of the contractors is injured while working on your property. Therefore, ensure that your contractor has the necessary insurance cover before the work begins. Request a copy of their insurance certificate as wells as workers' compensation insurance certificate. This will keep you comfortable during the renovation process.
Keep All Necessary Documents
You will need to update your insurance policy after the remodeling process is complete. The upgrades you've made may qualify you for certain benefits and the insurance company may also need to know what effects the renovations made may have on your present policy. Keep a record of any document that may be relevant to this process including receipts, estimates, bids and invoices. You can also take before and after pictures of the areas where the renovations were done. This isn't a requirement but it can make it easier to update your policy.
Check if Certain Upgrades May Make You Eligible for Discounts
When you're renovating the house or parts of it, you have a great opportunity to make improvements that could lower your insurance premiums. A fire alarm system, a home security system or even a better roof can qualify you for certain discounts if you're with the right insurer. Discuss these with your home insurance agent services to know what upgrades will apply.
Consider Extra Coverage During the Renovation
Many insurance policies will not automatically cover you during the period when you're carrying out repairs, renovation or remodeling. However, this can be a risky period for your home especially if some parts of the house are exposed to the elements. You should consider extra coverage that will cover your home and the contents within during this time. It might be well worth it in case of something like a sudden downpour.
For more information, contact a company like State Farm Insurance: Kurt Riehl.
After we had kids, we realized that we needed to up the ante on our insurance coverage. While we had a policy in place, I knew that we had to do something to make sure that we were protected in any instance, which wasn't the case at the time. I began talking with different brokers about what we could do to improve our coverage, and they had some really great suggestions that seemed to help. This website is here to help other people to know how to purchase insurance, and what kinds of policies would work best for your special family.