When you are renovating your home, you have several hundred thousand worries on your mind. One of them is the potential for accidents or liabilities. That is what home insurance is for, and what contractor insurance is for if you are hiring one.
At Gill Insurance Agency, we want Plainfield, IN residents to make sure they know what their liability coverage looks like before they renovate. Here are a few things to keep in mind before you get that first hammer swinging.
Notify Your Home Insurance Company Before You Renovate
When you are renovating, you will need to check with your home insurance company before you do so. They will want to know if the cost of your home will go up after the renovation is complete.
Increase Your Liability Coverage
They also want to make sure that your liability limits are high enough, in the event of an accident during the renovations. There could be any problem happening during a renovation. A nail could get stepped on and it turns into a year-long crisis, a fall could occur, or damage could occur that you may be held liable for.
This is important whether you are hiring a contractor or not. All too often, we do it ourselves, and get an extra hand from a friend, and something happens. Nobody wants to sue anybody, but somebody still has to pay for the damages.
Increasing your liability coverage helps you to feel more secure in the event that something like this happens. If it happens on your property, you are going to be held liable.
Check Your Contractor’s Insurance
If you do have a contractor, be sure that they have liability insurance as well. You can ask to see a copy of their policy or get a copy of their policy number in the event of a problem. You can get a copy of their worker’s compensation policy as well. They may ask to see your policy number as well, but for the most part, this is a question contractors shouldn’t be afraid to hear.
This is important and tells your contractor that you are paying attention to liabilities. It may be their nail that you hurt yourself on. You won’t be held responsible for that.
Increase Your Liability Coverage Today
It’s never too early to increase your liability coverage. At Gill Insurance Agency, we want Plainfield, IN home owners to feel comfortable with their home insurance policy. Call us today to update your home insurance policy, and increase your liability coverage before you renovate.
