Are you thinking of putting your home on the Havasu real estate market anytime soon? Does it need some updating? Perhaps the kitchen or bathroom desperately needs a touch-up. Or you might want to make some changes to your garage (and increase the value of your Lake Havasu home in the process). Sometimes, issues arrive when we perform these renovations. Do you know what your homeowner’s insurance covers and what it doesn’t if something happens during a remodel/renovation? Find out before you start.
Homeowner’s Insurance and Renovations
Contact Your Insurance Company
First, call your insurance company. Before you hire a single contractor. Before you even decide which rooms in your home need some work. Talk to your insurance agent about your homeowner’s policy. Ask about your replacement cost. If you plan on investing several thousand into your bathroom or kitchen remodel, you want to make sure you’re covered for the additional cost if things go sideways.
What Does Homeowner’s Insurance Cover?
It basically covers any emergency situation that might happen during the regular occupancy of your home. If a fire erupts while a contractor works on your property, it should be covered. The same goes for a broken window or even broken furniture from work a contractor performs. However, you need to double-check with your insurance company before any work starts. Otherwise, you might be stuck footing the bill yourself or battling it out with the contractor. Avoid the hassle. Call your insurance agent.
What Doesn’t Homeowner’s Insurance Cover?
On the other hand, your insurance company will not cover poor workmanship or an unsatisfactory result. That needs to be taken up with the contractor. Also, any damage caused by the shoddy work done on your property won’t fall under a typical insurance policy. Ask for warranties on work from a contractor before they begin any work on your home. Also, make sure the contractor is licensed, insured, and bonded to cover any damage that may happen just in case. Plus, their insurance should cover any damage that might take place to your neighbor’s property due to work performed by your contractor. Request a copy of this insurance upfront for your protection.
Alexis Steel – 928-303-2199
Keller Williams Arizona Living Realty
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