Update your homeowners insurance policy to ensure your home remodel is covered.

If you are looking to renovate your home, there are a lot of preparations that you have to make. However, between selecting the right contractor and choosing the perfect finishes, it's important that you contact your home insurance provider. Here's why you need to report your renovation plans to your insurance agent. Why does your agent need to know? Anytime you renovate, your home's value will increase. This means that your current homeowners insurance policy might not offer enough coverage to fit your home's increased value. To avoid any dangerous coverage gaps, speak to your agent about making the necessary updates to your homeowners policy. What changes should you make? Your agent will be able to determine the best course of action for you. Generally, they will recommend gradually increasing your policy's coverage limits as the renovation project progresses. If you are making a major addition to your home, such as a new room or garage, you might want to specifically list this addition in your policy to ensure that it is covered. Do I need coverage for my contractors? Anytime construction work takes place, there is a chance that injuries will occur. However, it is the construction company's responsibility to carry workers compensation coverage for its employees. To protect yourself from any liability risks, check to make sure that the company you have chosen has all the right coverages in place. Always ask to see a contractor's or subcontractor's (plumber, electrician, etc.) proof of insurance before hiring them for the job. This is how you can ensure that you have adequate coverage for your home renovation project. Do you have additional questions regarding your homeowners insurance? Contact the experts at East End Insurance Agency for assistance today.