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150 Lower Westfield Road
Holyoke, MA 01040

Newsletter

28Jul. 2016

Home Remodeling Tips

Are you thinking of remodeling your home in the coming year?  Many people plan to tackle home repairs and renovations that they have put on the back burner and now is the time!  How exciting to think about that new bathroom, or screened in porch just in time for the fall!  Before you call any contractors or begin work yourself, step one should be to talk over your remodeling plans with your insurance agent to ensure you have adequate coverage during and after the renovation.  Here at Ross Insurance, our team would be happy to talk over any plans you have and help evaluate your coverage and coverage needs.

If you plan to hire a contractor to manage your remodel, it is essential to get proof of their insurance coverage.  A contractor should have both a commercial business/general liability insurance policy and workers compensation coverage.  If your contractor is not adequately insured or is unwilling to verify their insurance coverage, consider hiring someone else.  If the contractor doesn't have coverage and something goes wrong, you are left holding the bag.  If they aren't adequately covered by insurance that should raise a red flag about their professionalism.

If you plan to do the work yourself with friends or family, its important to verify that your homeowners policy has sufficient liability protection should someone be injured.  If you are planning an extensive project, look into a builders risk policy or a "course of construction" policy.  Sometimes these are available as a rider on your current policy and sometimes they are stand alone. This type of coverage typically would protect a home from damage incurred during construction, including wind, rain and vandalism.

Once your project is complete, it may be time to assess the value of your property to see if your Massachusetts homeowners insurance coverage needs to be increased.  If renovations add any new property features such as garages, gazebos or an increase in square footage you will want to make your insurer  aware! Plus if you plan to add a pool, hot tub or any other recreational features, you may need to up your liability coverage!

One final suggestion:  Think green with your remodeling plans.  Putting energy efficient products into your design is a great thing.  Not only do the savings add up and help offset some of the cost of the renovation, but you are doing something wonderful for the earth at the same time!

 

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