Additional homeowners insurance after remodel?

Addtional homeowners insurance after remodel

Remodeling a home can be a great experience. While it can be overwhelming at times due to the natural stress that is caused by having your home in disarray while the remodeling is taking place, the benefits surely outweigh this brief discomfort. Remodeling your home can be costly while increasing the value of your property. Because of this some owners consider increasing their homeowners insurance. This article will identify several reasons why purchasing additional homeowners insurance is a good idea after a remodel.

If you are adding on a room to your house, you will want to be sure to add that space to your insurance plan. Should some bad weather blow through, a leak occur, or worse, your home catches on fire, you want to be sure that your entire property is covered by your insurance. To do this, you will need to contact your insurance company and make them aware of the new addition you are adding on to your home. They will go over costs associated with adding the additional square footage to the plan as well as the limitations that the insurance may have.

When remodeling your home, chances are that you are hiring out the job. If you are hiring out the work, be sure that your insurance will cover the contractors or subcontractors who are doing the work. It is also a great idea to inquire with the contractors about the insurance that they also have. Knowing what is covered before the job is underway can eliminate potential problems in the future should something go awry.




While your home is being remodeled, your insurance will cover certain things that could occur that you may not consider. Some feel that it is a good idea to increase their insurance coverage while the work is taking place in order to ensure that the building supplies such as carpeting, tiles, roofing, or lumber are all covered. While the work is done, it is possible that the items could be damaged or worse, stolen from the work site. Often times your contractor’s insurance will cover theft, but it is best to know before the job begins as opposed to finding out mid-project that you will have to purchase additional supplies because they were either damaged or stolen. This cost could be detrimental and could easily be avoided by spending money on increasing your insurance coverage.

Insurance can be costly and if you are lucky, you will never have to utilize the option of filing a claim with your agent. Because it is a good thing if you do not use the insurance, it can often feel as if you are throwing money away when in fact it is very smart to invest in coverage should the “what if” happen. The cost of insurance can be minimal compared to the amount of money it may cost to repair your home if there is damage or if supplies are stolen or broken from the work site. Being prepared and preventing trouble before it happens is always a smart idea.

Thank you for sharing, Handyman tips team!
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