Home Remodeling

Home Remodeling Covered Under Your Insurance?

So many things to do before actually remodeling your home right? There’s plans to make, contractors to speak with and even Pinterest boards to browse for ideas. But many homeowners actually forget an important aspect of remaking their homes – insurance. Have you contacted your insurance agent or UK insurance broker and informed him of the changes you have planned because it can be necessary to maintain the cover after the changes are complete?

You need to inform your agent because your policy may not be enough to cover the value of your home after the improvement. In case anything happens to your home, you may receive insufficient coverage since the policy valuation did not account for the money spent during the improvement phase. Thus, always inform your agent before doing any changes to your existing premises.

Coming to the actual changes, remember that before starting the remodeling work, talk with your agent and ask the specifics on policy upgrades. It is always advisable to increase the cover gradually as each phase of improvement finishes as the valuation will take into account the standing premises only. For major projects though you may want to add many more things into your existing policy.

Next comes the contractor and the risk of injury to them and your property. In any service providing field the need for insurance is a must on both sides – client as well as the service provider. A good example of this kind of insurance is motor trade insurance. Always ensure that the contractor you get is insured in the right manner. This means he has liability insurance and a worker compensation coverage too. Be straightforward and ask for proof of their insurance cover. Do the same for any subcontractor on the job too.

What If It Is DIY?

For DIY projects, you can check the liability required by following up with your agent but for injuries on the job, there is a possibility it may not be covered under the homeowner’s policy unless you have a no-fault medical protection clause included. Always keep copies of any receipts and contracts you receive for materials and work done on the job. And take pictures before and after the renovation work is complete.

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