Extra insurance coverage may be required if you are a starting a home renovation project. The need for extra insurance coverage will depend upon how complex the renovation project will be, what your current homeowners insurance covers, and whether people will be living in the house during the renovation.
The first type of extra insurance coverage that may need to be purchased during a home renovation is liability insurance. Just because the general contractor has liability insurance, does not mean that you will be fully protected. Extra insurance coverage may need to be purchased to protect you against potential lawsuits.
Another form of extra insurance coverage that may need to be purchased is one for unoccupied homes. If the home is not currently being occupied by the homeowners during the renovation then the current homeowners insurance policy may not provide coverage in the event of an accident or any damage.
Homeowners that will not be living in the home during a renovation may want to consider an unoccupied home insurance policy. This policy will provide liability protection and protect the property in the event there is a natural disaster, vandalism, or an accident.
Some homeowner’s current insurance policy may provide enough protection that extra insurance is not needed. It really depends upon the type of policy that is already purchased and the insurance company that provides the insurance.
If you are currently considering renovating your home in Burlington, NC, it is best to talk with a qualified insurance agent to see if you are properly protected. The independent insurance agents at Don Allred Insurance can assess your home renovation project and make recommendations on whether or not any extra insurance coverage may be needed.