Remodeling Your Home? Read These Tips!

Protect yourself while you remodel your home in Orland Park, IL. 

Have you hired a contractor to remodel your home?

If you have chosen to hire a contractor to remodel your home, it is important that they have an adequate insurance policy. It is more than acceptable to ask to see the insurance policy they have. On average, the three main parts of a contractor’s insurance policy are:

  1. General Liability: covers the contractor’s negligence (any property or injury to others).
  2. Builder’s Risks: covers the possible damages done to your home and materials regardless of if they have been installed yet.
  3. Worker’s Compensation: applies to the employees of the contractor or sub-contractor working on the home. Covers any injuries that may occur. Without this, an employee of the contractor or sub-contractor could sue you if they were injured working on your home.

Are you the General Contractor of your home remodel?

If you decide to do the hiring of sub-contractors for your home remodel, you will need to research your homeowner’s policy to see if liability for the workers is provided. If it is not, you will want to provide liability coverage and worker’s compensation so that you are not held responsible for the many variables that could cause injury to someone in or outside of the home during the remodel. Contact your insurance agent for more information before moving forward.

Are you doing the remodel yourself?

Do it yourself home projects can be challenging. However, if that is what you wish to do, it is important to have the knowledge of what your homeowner’s insurance plan will cover in terms of your DIY projects. Even if you update and make improvements by the book with correct permits, your insurance may not cover a cost that is a result of your DIY effort.

Either way, share the news with us!

It is a good idea to contact your insurance provider and update them on your future plans to remodel regardless of who does the work. You will want to make sure the updates are noted so that they can remain covered by the plan. In addition, it is possible that your remodel could lead to a decrease in cost of your homeowner’s policy.

For all of your home insurance questions and needs, contact Gee Schussler Insurance Agency in Orland Park, Illinois.