When Should I Tell My Insurer I’m Doing Some Remodeling?

A call to your home insurance provider should be among the first you make when you plan on doing some remodeling. Before you've even called your contractor, it's a good idea to get in touch with your insurer. Here's why:

You want to make sure that remodeling won’t compromise your current policy. It's your home and you can do with it what you will. However, certain policies may be compromised if you start to undergo construction without updating your insurer. After all, they need to know what it is that they're covering.
You might need to buy some additional insurance during construction. If this is the case, your agent can guide you towards the policies that you need to protect yourself. For instance, builder's risk insurance can be essential if you are engaging in a particularly ambitious project.
You might need to buy additional insurance for your possessions. Building onto a home or remodeling a room can invite a whole new set of risks when it comes to insuring your possessions. You don't want to find out about your updated risk profile after filing the claim.
You might need to vet your contractors. Your insurer can guide you through this process. You want to make sure that your contractors are carrying their own insurance, and your agent can help guide you through the process of verifying that.
You might want to expand your coverage at each step of construction. Few renovation projects are all done at once. Typically, you're going in steps. A new bathtub here. Another bedroom there. So, it's a good idea to keep your home insurance provider informed every step of the way.

As a rule of thumb, it's a good idea to contact your insurance agent any time you're making a major decision regarding your home. Your interests are their interests. They want to help you control and reduce the risk involved in being a homeowner.

If you're buying insurance from a reputable company, you can generally count on your agent to help you through any questions regarding major remodeling, repairs, or renovation you plan on doing in your home. This way, your end is covered should something go wrong.

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