Looking to make improvements to your home? Great news! There are several advantages to renovating your house. Not only will you help increase its value, the right improvements will help make it more energy efficient and better able to meet your specific needs. Whether you’re an experienced DIYer or will be hiring professionals to handle the job, it’s important that you obtain the right insurance coverage in order to protect your home both during and after construction. 

The first step is to speak with your insurance provider about your current homeowners policy. When renovating your home, you increase its value, to be sure. But you also increase the cost of repairs in the future. You may want to think about bumping up your policy limits for better protection, or even adding key coverages that are unique to home remodeling projects.

Before and during the project, you will need the proper add-on coverage for occurrences that a basic homeowners policy will not cover. Here are some coverages you may consider adding to your policy: 

Dwelling Under Renovation Coverage - This type of coverage will protect your project from turning into a financial nightmare because it safeguards the building materials and your home.


Construction Material Coverage - This coverage protects building materials while they are sitting on your property, while they’re being stored and while they are on the way to your home. This way, you can more readily recoup the cost of replacing the materials in the event they get damaged or are stolen. 


Foundation Collapse - Hydrostatic pressure can cause basement walls to collapse from too much water built up during the home renovation. It’s a common concern for many builders, but this will cover any damage that may result.  


Vacant Home Insurance - Will you be residing somewhere else while your home is being remodeled? If you plan to live elsewhere for more than 60 days, consider getting vacant home insurance which protects your home while you’re gone. For example, if a big storm comes through and does damage that you don’t know about until you return, this type of insurance covers you.


Contractors Insurance - When hiring professionals for the job, they must have the right coverages in order to protect them and you in case something unexpected happens. Make sure your contractor has liability, property and workers’ compensation insurance, and ask them to provide proof in the form of a certificate of insurance. Make a copy for your records. You may want to hire a bonded contractor to cover work product issues not covered by their commercial general liability (CGL).

Make sure all subcontractors on the job have appropriate coverages as well.

These types of coverages will give you peace of mind as you remodel your home. 

Contact Bearce Insurance Before Remodeling Your Home

To learn more about coverage options to insure your home while remodeling, please contact us locally at 508-586-3400 or toll-free at 800-498-9900, or get an online quote today.