Deciding to remodel a home is not something that homeowners take lightly. It’s usually pretty costly to do, and take a huge amount of time and effort. On the other hand, your home may be much more livable with a renovation, and the value of the home could also increase.

No matter the size of the renovation you are planning, there are many considerations involved. You’ll have to figure out your budget, what all you want done and the best time to have it done. Remember that your home insurance policy could be affected, so take that into consideration before you begin.

Most standard homeowners policies allow for minor repairs and renovations without jeopardizing coverage but that doesn’t go without possible exceptions. Prior to beginning your remodelling, take a look at your home insurance policy and speak with your insurance provider. Three of the likely exceptions that may affect your insurance coverage during renovations are:

Before you hire a contractor to complete renovations on your home, be sure that you discuss insurance issues before they begin any work on your home. Liability insurance is important, so request proof that your contractor or subcontractors have this form of protection.

This type of insurance coverage is mainly used as a safeguard against liability caused by injury and damages. Go over the policy to ensure you know when it expires, the limits involved, and the extension of the coverage. In most states this is required by law, however looking into it is wise. If an accident does occur on your property during renovations, you will be glad that you are insured as it could be a major issue if you are not.

Being covered by insurance isn’t a reason to have lax safety standards, be sure that any hazardous situations on the site are dealt with properly. Lawsuits can be filed if there is negligence involved. Always hire safe contractors recommended by family and friends.

Prior to commencing with the renovation process, calculate how much your property will be worth after the remodelling is complete. The majority of homeowners leave themselves with no protection because they neglect to increase their insurance coverage. Be sure that your coverage is adequate during the renovation process and afterwards by going over your policy with your insurance agent.

During renovations, your home could actually be more vulnerable to theft or weather damages. If you’re home requires extensive work, it may require you and your family live elsewhere during the renovation and if so, your standard homeowners policy may be rendered useless.

It appears that the majority of insurance providers cease coverage on homes that are left unoccupied for over thirty days. If this is the case in your situation, extra coverage will need to be purchased. You could be granted a vacancy permit by your insurance provider that covers wind and fire damage, as well as other stated perils. Most insurance companies are wary about providing this kind of coverage for vacant homes because the likelihood of loss or damage is increased during this time. When your home is being renovated and will be empty for a time, be sure that you speak with your home insurance provider.

To learn more and to receive great savings, we invite you to visit this link : and if you’re looking for a quick video summary, click here.