Are you thinking about making serious improvements to your home? If so, it is going to be important to ensure that you’re properly protected. As a homeowner, you’re solely responsible for providing a safe and decent environment for your contractors to work in. Should someone end up injured on the job as a result of poor working conditions, you could find yourself on the hook for the costs.
Updating your homeowners insurance to include liability coverage is the most effective solution to preventing a slip and fall claim. It is equally as important to ensure you hire contractors that have their own insurance that will provide coverage in the event that they cause damage to your home or even worse, complete a job improperly that causes you or someone in your home an injury later on.
Should you be involved in an accident during or immediately following a renovation, reaching out to personal injury lawyers can help you determine who’s liable and whether or not you have a case. To minimize the potential of a lawsuit on either party, it is best to dot your i’s and cross your t’s. Below are a few guidelines for insurance when scheduling a renovation:
Talk to Insurance Company
Before your contractors make any adjustments to the home, you should contact the homeowner’s insurance company. Let them know about the types of renovations you intend to get and determine whether your policy provides coverage for damage or injuries during the renovation. It may be necessary for you to obtain additional liability coverage for the duration of the project.
Increase Coverage Amount
While your insurance policy may provide liability coverage during renovations, in many instances you may be required to increase the amount of coverage you currently have. Since the value of your property will increase with improvements, you’ll have more you’ll need to protect. Waiting until the renovation is complete could end up costing you more. Should the improvement become damaged or destroyed prior to its completion, you could have to pay the loss out of your own pocket.
Check Contractor’s Insurance
Though you hope the renovation goes off without a hitch, you can never be too sure. When you’re looking to hire a contractor, be sure that they have adequate insurance that will cover their staff should they get injured on the job. As you contact service providers in your area, don’t hesitate to ask if they have workers’ compensation coverage. Any reputable contractor will have no issue with providing you with the answer along with a certificate as proof of insurance. You should also inquire about liability coverage. This is necessary to protect your property. It should cover the damage caused to your home by the contractor that is unrelated to the renovation.
If the contractor you’re hiring is also going to be utilizing subcontractors you’ll need to make sure they also have the necessary coverages discussed above. For instance, a general contractor might work with a plumber, electrician, or other remodeling expert to assist with certain tasks. If those contractors aren’t covered, you could be liable for the expenses.
Protecting Family or Friends
{Paint Color: Bedroom ceiling paint color is Sherwin Williams Restful SW6458. Wall paint color is Benjamin Moore Silver Sage 506.}
If you’re going to try and tackle the renovation on your own (or any portion of it) and you have friends and family helping you out, you still want to make sure that insurance coverage is in place. Liability insurance from your homeowner’s policy should cover the cost of medical bills, however, should they get seriously hurt, you may need to have additional coverage so you don’t have to pay out of pocket.
Inspect
Once your home renovation has been completed, as a final layer of protection it is a good idea to have the property inspected. An inspection of the renovations will ensure that everything meets local code and that it has been properly installed.
Ensuring that you have adequate insurance for a home renovation is not likely something you think about often. In fact, many homeowners don’t realize the risks there are until after they’ve been hit with a slip and fall suit. To protect your home, your loved ones, and your wallet, it is always best to be safe than sorry.
Sources: 1: DBP Architecture PC. 2, 3 & 4: DWL Photography. 5 & 6: Andrew Roby General Contractors.
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Luciane from HomeBunch.com
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