Update Your Home Insurance When Renovating

Update Your Home Insurance When RenovatingThe moment you’ve been waiting for is finally here! Construction on that updated kitchen, finished basement, enclosed patio or home addition has begun, and in the midst of a huge renovation project, the last thing you want to worry about is whether or not your home insurance provides adequate protection.

“When renovating and remodeling, you are adding to the value of your home,” said Celeste Fifield, Personal Lines Account Representative at McGrath Insurance Group. “This means that you need to upgrade your homeowners policy so it reflects the new replacement cost value of your home in order to ensure proper protection.”

Tips for Before Starting a Remodeling Project:

  1. Notify your independent agent of any plans to update or renovate before or shortly after construction begins. Neglecting to do so can increase your risk of not being fully covered in the event of a claim.
  2. When hiring a contractor, ask the contractor to provide a certificate of insurance describing how it extends to employees and sub-contractors. Check that you are listed as the additional insured on the certificate. A workers’ compensation policy ensures that the fault from a potential death or injury to a worker on your property won’t fall onto you.
  3. Check with your independent agent to see if any updates made regarding your plumbing, heating, roof, electric, security system, etc. qualify you for discounts on your homeowner policy.

For more information, contact McGrath Insurance Group at 800-342-3859 or visit our website at www.mcgrathinsurance.com.

*This article is written for informational purposes only and should not be construed as providing legal advice.