RE/MAX Main Street Associates
Plaistow: 603-382-7979 | Haverhill: 978-373-6033


Posted by RE/MAX Main Street Associates on 2/11/2018

Home renovations are generally thought of as a good thing. You can update your home for your own comfort. New amenities will make your life easier. Your home can expand in size. Whatever you are planning to do in your home is bound to have a positive affect. One thing to be aware of when youíre gearing up for the process of any type of home renovation is that of your home insurance. You want to protect yourself and your home as your go through the stages of home renovations. Below, youíll find some tips to help you complete renovations you desire in your home without having surprise insurance bills. 


Check That Your Contractor Has Insurance Coverage


Before you sign a contract with any contractor be sure that they have sufficient insurance coverage. In particular you want to be sure that they have workersĎ compensation coverage and liability insurance. Donít be afraid to ask the contractor for the necessary certificates and confirmation of insurance coverage before you even sign the contract. Itís your right as a consumer to know that your contractor is covered properly.


Beware Of Subcontractors As Well


Just because your general contractor is covered doesnít mean that all subcontractors that are hired have the correct insurance. Electricians, plumbers, and other specialty contractors will need their own insurance on the job. The same rules apply as when youíre hiring any other contractor. Check with the general contractor to understand if their policy will cover all workers that are hired, or if these individuals need to carry their own insurance policies. Check with your home insurance company to see what your home insurance does and doesnít cover during a renovation period on your home. The more knowledge that you have going into the process, the better it is for you. 


For Your Homeownerís Insurance Policy


Once the renovations are complete, youíll need to reassess the policy coverage amounts that you have for your home insurance policy. The renovations that you have completed will undoubtedly increase the value of your home causing you to need to increase the replacement value of your home on your insurance policy. Donít forget to include everything from new appliances to furniture that has been replaced in the renovation. This will help you to avoid any gaps in coverage. This way, youíll know that your home will be fully covered. With the right insurance coverage youíll know that your home is can be rebuilt to the same specifications in the event of a complete loss. You always want this peace of mind as a homeowner.      





Categories: Uncategorized