Remodeling? Check your coverage

Renovating or redecorating a room in your home? Adding on a new addition?

Regardless of the project, if you’re revamping your home this summer, the coverage limits on your current insurance policies may also be in need of some remodeling.

Protecting your home

Don’t wait until the work is complete to call your agent and increase coverage on the structure of your home. If your new addition were to be damaged or destroyed before you increase your coverage, you could end up paying the cost of repairing or rebuilding the damaged area. That’s why it’s important to call your agent and make necessary changes to your policy before or shortly after construction begins.

If you’ve purchased new items such as furniture or electronic equipment as part of your remodeling work, you may need to consider increasing the amount of coverage for your personal possessions.

Avoiding liability

Before you hire a general contractor to complete your remodeling, ask to see a copy of their workers compensation policy. If they have no coverage or insufficient coverage, workers injured on the job could end up suing you for medical or rehabilitation expenses.

In most home improvement projects, contractors hire subcontractors to complete plumbing, electrical work and other construction projects. Depending on the situation, those workers may or may not be covered under the general contractor’s workers compensation policy. If they’re not, you may need to increase the limits on the liability portion of your homeowners policy.

Your Allied agent can help answer any questions you may have about making changes to your policies to accommodate remodeling and renovations. Call or stop by today.

Source: Insurance Information Institute