Insuring Your Home Remodeling Project Starts Long Before The Project Starts

If you’ve ever been through a home remodel – even so much as a bathroom or kitchen upgrade – you know there can be a lot to do. Yes, the result can be rewarding, and it can have a great impact on the resale value of your home. But there are many decisions to be made along the way in terms of arranging financing, selecting contractors and, of course, countless decorating decisions.

Of all the things you have to do, one that often gets overlooked is a call to your Orlando insurance agent. In fact, it’s a good idea to make that call the first thing you do. In this article, we’ll explain why.

Accidents Can Happen – Even On The First Day Of Renovations
Waiting until your home addition or renovation is complete is not the time to increase coverage. If your new addition or renovation were to be damaged during construction without coverage, even on the first day, you would likely be on the hook for the damages including the repairing and/or rebuilding. Accidents happen, as do hurricanes and other forms of damaging weather. By not adding insurance up-front, you leave yourself open to potential financial risk.

Furthermore, ensuring you have adequate liability coverage also mitigates your risk – regardless of whether you are doing the work yourself, or hiring contractors to get the job done. If you’re doing the work yourself, and you have friends or neighbors helping you, what happens if they injure themselves? If there’s any chance that medical bills from an injury could exceed your current liability coverage, you should seriously consider getting an umbrella policy to boost your protection.

You’re Not The Only One Who Needs Coverage
Before work even begins, ask to see your general contractor’s workers’ compensation policy. This coverage protects their workers and sub-contractors while on the job. If they don’t have coverage, or don’t have sufficient coverage, anybody injured while working on your project could end up suing you to pay for any medical bills the general contractor’s policy doesn’t cover. Ask your insurance agent what the right amount of workers compensation coverage is.