Before starting any remodeling project, put insurance on your list of considerations.
Check the insurance limit applicable to your dwelling. This limit is normally based on the cost to repair/rebuild your house if it is damaged. A remodel will likely increase the insurance value of your home, so failing to update your limit could result in underinsurance should a claim occur.
If you are using a contractor to do the work, verify that the contractor will carry insurance on the building materials. If he won’t, contact your insurance agent or broker for information about how your homeowners insurance may cover these items if they are damaged or stolen during the remodeling process.
If you are using the services of someone else for any portion of your remodel, always verify that they have, at a minimum, workers compensation and general liability insurance for all workers sent to your worksite. Workers compensation coverage will ensure that you, the homeowner, will not be on the hook should someone working at your home be injured. The general liability policy should cover costs associated with damage caused by a worker to your home during the job.
