Protect Yourself during a Home Remodeling Project

When planning a renovation task on your home, you have two concerns regarding liability and insurance. Before allowing a contractor to work on your property, ensure you’re adequately insured. The firm should have both construction liability insurance and worker’s compensation. Also, your property’s coverage is a significant concern.

Remember, even experienced kitchen remodeling contractors make mistakes. Their errors can lead to property destruction and expensive losses. So, it is wise to ensure you are not underinsured to prevent loss. Although working on a renovation project is exciting, use these tips to protect yourself from regrettable losses.

Verify Your Contractor’s Insurance
Never leave anything to chance in your quest to find a good general contractor Gig Harbor. Before hiring the remodelers, check if they have workers’ compensation. Ask for evidence of insurance. Workers’ compensation will cater for rehabilitation and medical expenses when the worker sustains injuries while at work.

It will also cover lost wages for the injured worker’s recovery period. This cover prevents the homeowner from paying medical bills for wounded remodelers. So whenever an accident occurs, the client won’t be liable since it is the insurer’s responsibility.

Renovations Mean Higher Value

Besides dealing with liability issues with your remodeling contractor Gig Harbor, ensure you increase your homeowner’s coverage based on your property’s increased value. Bathroom and kitchen renovations substantially increase a house’s value despite being expensive. So, be cautious not to over-insure your property because you will pay higher premiums that aren’t proportional to your home’s value.

Failure to increase your insurance coverage after renovations is risky. If the added remodeled parts or additional rooms are destroyed, you will be responsible for repairing or rebuilding them.