Renovating your home can be exciting, but it also changes your insurance risks in ways many homeowners don’t realize. Whether you’re remodeling a kitchen or adding an entire wing, your standard home insurance might not automatically cover everything that happens during the process. Understanding how coverage shifts during renovation helps prevent costly gaps if something goes wrong. For details, contact your insurance representative at August Vincent Insurance Agency, serving Crystal Lake, IL. In the meantime, here’s what you should know.
Coverage Before Construction Begins
Before work starts, contact your insurer to explain the scope and cost of your project. Most home policies protect against fire, theft, and certain kinds of accidental damage, but those rules can change once construction begins. If contractors are involved, their liability coverage should also be verified. This ensures their insurance pays for injuries or damage they cause, not yours.
When You Need Extra Protection
Major renovations often require temporary policy adjustments or endorsements. A builder’s risk policy, for example, covers the structure and materials during construction, including losses from fire, vandalism, or weather damage. If you’re adding square footage, you may also need to increase your dwelling coverage so your home’s full replacement value reflects the new improvements.
During renovation, your personal belongings might be at greater risk too. Tools, appliances, or new fixtures stored on-site could be stolen or damaged. Reviewing your personal property limits and adding short-term coverage can help safeguard those items.
After the Work Is Done
Once renovations are complete, notify your insurer again so they can update your home’s value and coverage details. Ignoring that step can leave new upgrades underinsured.
Renovation brings progress but it also brings risk. Taking time to review your coverage before, during, and after a home renovation project ensures that your investment stays protected from the first nail to the final coat of paint. Contact your insurance representative at August Vincent Insurance Agency, serving Crystal Lake, IL to learn more!
