The birds are chirping, the flowers are blooming, and the urge to spruce up your home is probably blooming too! Spring is a popular time for tackling those home improvement projects, but before you grab your hammer and nails, take a moment to consider your insurance coverage. Bradford Turner Insurance Group in Cumming, Ga would be happy to discuss all of your insurance needs.
Why Insurance Matters During Home Improvement
Whether you’re planning a small bathroom remodel or a full-blown landscaping overhaul, renovations can introduce new risks to your property and your wallet. Here’s why your insurance needs some attention during home improvement season:
- Increased Liability: With contractors and workers on-site, the risk of accidents or injuries goes up. Liability insurance protects you if someone gets hurt while working on your property.
- Potential Damage: Construction projects are inherently messy and unpredictable. Accidents can happen, leading to damage to your existing structure or even neighboring properties. Your homeowner’s insurance might need adjustments to cover potential project-related mishaps.
- Changes in Value: Major renovations can significantly increase your home’s value. Make sure your dwelling coverage reflects the updated value to ensure adequate protection in case of a covered loss like a fire.
How to Prepare Your Insurance for Home Improvement
Now that you understand the potential risks, here are some steps to take before that first swing of the hammer:
- Contact Your Insurance Agent: Discuss your renovation plans with your agent. They can assess your existing coverage and advise you on any adjustments or additional policies you might need during the project and for the completed renovation.
- Review Your Coverage Limits: Ensure your dwelling and liability coverage limits are sufficient to cover your home’s value after the renovation and potential project-related accidents.
- Get Written Documentation: Obtain written contracts with all contractors involved in the project. These contracts should outline their insurance coverage and liability in case of any mishaps.
- Consider Additional Coverage: Depending on the project’s complexity, you might need additional coverage like builder’s risk insurance to protect the project itself from theft or damage during construction.
Spring Forward with Confidence
By taking these steps, you can ensure your home improvement dreams don’t turn into an insurance nightmare. A little pre-planning can save you a lot of stress and financial burden down the road. So, get ready to roll up your sleeves, but don’t forget to safeguard your investment with proper insurance coverage!
Bonus Tip: Throughout the project, take photos and document the renovation process. This can be helpful if you need to file an insurance claim for any damage that occurs during construction.
