6 Insurance Tips for Home Updates

Home renovations can be costly, but insufficient insurance coverage can make the process exponentially more expensive. Below are some do’s and don’ts that can help keep you protected during a home improvement project.

  1. Double-check your contractor’s insurance coverage.Workers’ compensation and liability insurance are musts. Ask to see the necessary certificates and confirm sufficient coverage before you sign a contract.
  2. Don’t assume subcontractors are covered.If your general contractor is subcontracting work to a plumber, electrician or another professional, make sure those companies carry insurance. The general contractor’s policy may not cover them.
  3. Increase your replacement value.Improvements made during a renovation enhance the value of your home. Expanding your insurance coverage ensures your policy fully covers the cost of rebuilding your home as is.
  4. Don’t forget to include new items.Add updated appliances and furniture purchases to avoid potential gaps in coverage.
  5. Raise the liability coverage limit.Making this change can help protect a homeowner in the event of an injury while the property is under construction.
  6. Don’t neglect an attractive nuisance.Are you adding a swimming pool, trampoline or other feature to your home that might attract and pose a risk to children? Should an accident involving an attractive nuisance happen, you’d be liable — whether or not you gave permission to use it. Additional liability protection can help ease that burden.

Insurance plays an important role when you embark on a home improvement project. The right type and amount of coverage can help you avoid pitfalls on the road to owning your dream home.

3 comments on “6 Insurance Tips for Home Updates

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    Thank you for the sensible critique. Me & my friend were just preparing to do a little research about this. We got a book from our local library but I think I learned more from this post. I’m very glad to see such magnificent info being shared freely out there.

  2. Larry Weaver on

    Thanks for the tip to add updated appliances and furniture to liability coverage insurance in order to avoid potential gaps. My parents recently remodeled their home and got a new fridge and sofa which they should include for their coverage. I’ll be sure to make sure they get everything managed so no gaps or errors are present in their coverage after the renovation.

  3. Kyle Wayne on

    I like that you mention how much insurance can protect you and keep you safe. My brother is looking to get insurance for many things and wants to keep his kids safe. I’ll be sure to talk to him about finding an insurance company that really values that.


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