Insurance Claims for Home Remodeling

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If you are planning to remodel your home, don’t forget to check if it has been adequately insured. Why you might ask? It has been estimated that one-fourth of all home remodeling projects increase the value of the home by a minimum of 25 %, but most homeowners don’t realize this and subsequently don’t increase coverage.

If you are thinking about adding an extra room or making any other changes to your home, don’t wait to get insured. In the event this new addition gets damaged or destroyed before you file for insurance, the responsibility for rebuilding or repairing it may fall on you.

If you are hiring a contractor, ask him if he has covered his workers with a compensation plan. The worker’s compensation policy covers their rehabilitation, pays for their medical bills, and lost wages if the worker gets injured in the job. You will also be protected from any insurance claims in the future.

It doesn’t matter if you are having a swimming pool, a front porch constructed or making renovations in your kitchen. Contact your home insurance provider before the renovations begin and safeguard yourself against any risk.

The additional insurance must reflect the new value of your home and not the cost of renovation. If you have a mortgage, don’t match the value of your insurance to the mortgage, but to the present house value.

The insurance may/may not result in an increase in the coverage, but it is best if you remain upfront with the insurance company. Consider this, you build a deck and someone falls off it. But you hadn’t informed the company about this addition. The company will most likely deny your insurance claims or worse you may even be dropped by the company. Review the value of your home annually to make sure that your coverage will cover you in the future also.

How do I get Started?

Honey-Doers Home Maintenance and Remodeling has been serving the Twin Cities for over 18 years and have assisted many on getting the most for their home insurance remodeling claims and plans. We’re famous for our free estimates, so please give us a call to discuss your home insurance claims and planning at 952-985-5383!