My experience
Should i know the basics about home improvement? Things such aa how to hang dry wall? Or install cabinets?
I didn't when I started. I partnered with someone that did.
It depends on your situation.
Yes you should know the proper ways to install building components. They have free videos online to view and at least you will learn the process. Too many contractors take advantage and install substandard materials to make more money on the job. It is the few bad apples but you don't want to be the victim. As a contractor myself I have fixed many jobs that were poorly installed or the so-called contractor left the job. Check for current licenses and insurance to protect yourself. Don't take someones word for things as you will ultimately be responsible for the project. Good luck.