5 Insurance Tips to Consider During Home Remodeling

You love your home. You do not feel like you would want to change a thing about it. But there is something to the clichéd statement that change is the only constant thing in life. It is likely that you may want to remodel your home at some point in future. Your sense of style is evolving and what appeals to you now may seem unexciting tomorrow.

You may choose to work with a home improvement company, or you may opt to do it yourself. Either way, it is important to ensure that you, your family and your property remain protected. Below are five tips to help you along the way:

Confirm the Insurance Status of Your Contractor

If yours is a large project, it might be a good idea to hire a general contractor. Typically, you will have asked people you trust for referrals. Now you have the right company just about to start work on your project. Request a copy of liability insurance certificate from your contractor. You will feel more relaxed and peaceful during the renovation process.

Document Everything

Gather every record related to your project. Keep all receipts, invoices, bids, and estimates. You may use them when updating your home inventory and home insurance policy.

Consider taking "before and after" photos of your project. Such pictures may help your insurance agent update your cover faster. Plus you will always feel nice when you look at the dream you made come true.

Maybe you want to sell your property. High-quality pictures can help your real estate agent sell your home faster. They may help prospective buyers appreciate your home more.

You Can Save Money

You remodeling project costs money. But there is a way you could save a little of it. After the contractor completes the job, you may want to meet with your insurance agent. Ask them whether you qualify for a discount in connection with the renovation.

If you have installed smart home security or fire alarm systems, you may be eligible for a discount. The agent may also be willing to give you a discount if you replaced your old roof with an impact-resistant one. Your agent wants you happy; you have been giving him your business for long after all.

You May Need to Buy More Insurance

Whether you are remodeling, doing repairs, or renovating, consider buying extra coverage to ensure enhanced protection. You never know when the unexpected may happen. Hydrostatic pressure may result in water damage to your basement — consider adding two months coverage.

If your materials are not on-site, you need to arrange for appropriate coverage. Anything could happen to them, including theft or damage. Additionally, you have to buy some commercial auto insurance to keep you covered during construction material transportation.

You may have to seek alternative accommodation during the renovation. And anything might happen to your property in your absence. Vandalism or theft of personal property is not uncommon. You should ask your insurance agent for recommendations regarding any extra coverage you might need.

Schedule a Personal Insurance Review

When it comes to insurance, you do not want to entertain doubts. You want to be cocksure that you have adequate coverage at all times. That is why it makes sense to have a meeting with your insurance agent after project completion.

Your agent will review your coverage and give an opinion as to whether it is adequate. They may identify gaps and accordingly advise you. Have you bought valuables to go with your new lifestyle? Your agent will suggest any additional personal asset coverage you might need.

Accidents and disasters can happen when you least expect them. They may strike when you are happily going about your renovation project. You want to avoid anything with the potential to steal your joy during such an exciting time. Consult with your trusted insurance agent before commencement and after completion of your project. Your agent can steer you away from a lot of construction-related trouble. You want to enjoy peace of mind in your new home environment.