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Gant Insurance Gant Insurance
  • Home
  • Personal
    • Auto
    • Homeowners
    • Umbrella
    • Motorcycle
    • Personal Quote
  • Business
    • Commercial Auto
    • General Liability
    • Commercial Property
    • Business Owners
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Dec 27
Does My Homeowners Insurance Cover Renovations?

Does My Homeowners Insurance Cover Renovations?

  • December 27, 2018
  • Archives, Blog, home insurance, Personal Insurance

Here’s what you need to know about your homeowners insurance coverage and your home renovation.

If you are undertaking a home renovation project, then you have a lot to take care of. However, between vetting contractors and reviewing your plans, you should also make sure to contact your home insurance agent. While your insurance will not cover the cost of your home improvement project, there are some other coverage details that you need to work out with your insurer. Here are some of the things you will need to discuss.

Increasing Your Coverage Limits

The main reason why you need to notify your homeowners insurance agent about your renovation project is because there is a chance that your current policy will not offer enough coverage for your home’s updated value once the project is complete. By telling your agent about your renovation plans, they will be able to calculate how much you need to increase your policy’s coverage limits by.

Updating Your Policy

It’s also a good idea to update your homeowners insurance policy before undertaking your renovation. Your agent might want to update your policy throughout the building project so you can gradually increase your policy’s coverage limits as the project progresses. If your renovation includes making a new addition to your home, such as adding a room or a garage, your agent may also recommend adding this addition to your policy to ensure that it is covered.

Covering Your Contractor

Finally, you might be concerned about your policy’s ability to provide coverage for your contractor. However, it’s important to understand that you are not responsible for offering coverage for the individuals working on your home. As it is your contractor’s responsibility to offer coverage for his or her staff, you should ask to see proof of their coverage before allowing them to begin work. They should be able to provide proof of their liability and workers compensation coverage.

These are some of the reasons why you need to speak to your homeowners insurance agent before beginning your home renovation project. Do you have additional questions regarding your home coverage needs? If so, contact the experts at Gant Insurance Agency in McKinney, Texas for assistance today.

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