Home staging tips and ideas

Photo by James Thompson

Update: Remodeling can be expensive enough as it is, and you’ll need a certain amount of money as a contingency in case anything goes wrong. But imagine if your equipment is damaged or stolen, or yourself or a contractor is badly injured – would you be able to cover the costs out of your own pocket? For a major remodeling project, it’s a good idea to have insurance to protect yourself against these things happening. The premium you’d have to pay would be small compared to the potentially thousands of dollars you’d have to pay if something did go badly wrong.

The need for specialized insurance for remodeling is dependent upon the nature of the remodel. Your homeowner’s insurance may not offer adequate coverage for a remodel and sometimes working with an uninsured contractor may require a homeowner to be insured while remodeling. The special insurance may be taken out either by you or your contractor.

It is important to review the project and who will do the work in order to determine the type of special insurance that maybe required to protect you from loss and liability. A special insurance may be required to cover damage to stored construction material, damage to the house during the remodel process, injury to uninvited people at the remodel site, and cost of maintaining coverage of the home if the homeowner has to shift out during the remodeling.

Roof cleaning and treatment activities such as treating wood shingle roofs, removing mossy deposits, weather proofing the roof, pressure washing the roof, and roof tar/torchdown, etc often require a special insurance by the contractor. This is because the activities are hazardous and can lead to a loss of limb or life.

Activities during a remodel that may require a special insurance also include plumbing, electrical work, and remodeling work that uses heavy machinery. The contract terms and conditions should clearly spell out the insurances the contracting firm carries and any special insurance covering the remodeling work that the home owner has to carry.

Before starting any remodeling or construction project at your home, check with your homeowners insurance agent and explain your plans. They will help you evaluate your current insurance to see if it is adequate and suggest ways to protect yourself if needed.