If you’re making an improvement to your home, whether it be adding on an extra room or renovating a space, you’ll want to be sure you have the insurance to cover it.
Below are five important items you’ll want to take care of so you can have peace of mind knowing you have the proper homeowners insurance, just in case you need it.
1. Update Your Homeowners Insurance Policy
Let your insurance agent know about your home improvement project so he can help determine what, if any, additional coverage you’ll need. If more coverage is necessary, be sure to update your policy prior to starting any work so you won’t be responsible for paing for any losses if damage occurs before the project is finished.
If plans change as the project progresses, communicate this to your agent to find out if a different type of coverage will be needed based on those changes.
2. Make Sure Contractors Are Properly Insured
To protect yourself from liability in the event a contractor or a contractor’s employee is injured while working on your house, it’s critical to verify that the contractor has adequate workers’ compensation. And don’t just go by their word- you should ask to see an active certificate of coverage that reflects the period when work will be done on your house.
Also make sure your contractor has a certificate showing liability coverage. This will cover any damage the contractor does to your property that is unrelated to your project- which is hopefully none.
3. Verify Coverage for All Subcontractors
If your contractor will be bringing in subcontractors to work on your home improvement project, such as an electrician or plumber, you’ll want to see each subcontractor’s certificate of coverage for workers’ compensation as well. Even if your general contractor will be verifying this coverage, it’s best to confirm on your own to be on the safe side.
If any contractor’s amount of coverage isn’t sufficient, you may need to extend the liability portion of your homeowners insurance policy.
4. Protecting Nonprofessional Helpers
If you plan on tackling the majority of your home improvement project on your own and will be enlisting the help of friends and family, you should make sure the liability component of your homeowners insurance is sufficient in case someone is injured while helping you build your new kitchen counters.
5. Obtain Proper Inspections
You also need to make sure that any additions or renovations will meet all local codes. Do this by having all of the proper inspections performed and obtaining documentation regarding the results of the inspections.
Stop by any of our Arizona Tile locations to speak with one of our professionally trained consultants about your home improvement project.
Use our Just Imagine Visualizer to see what your renovation project could look like when it’s complete!