Angie Hicks, founder of Angie’s List, provides information regarding insurance coverage for homes undergoing the remodeling process. Some key tips include:
· Examine your coverage. Your home is one of your greatest assets.
· Contact insurers to verify your remodeling contractor and subcontractors are insured and bonded.
· Add yourself as an “additional insured” on your contractor’s general liability policy to cover any liability.
· Review coverage to ensure adequate replacement amounts in the event of disaster.
· If you remodel an unused room for business purposes, determine whether you need an additional policy or increased coverage.
· Check to see how improvements affect premiums and rates.
· While under construction, protect your investment by purchasing a builder’s risk policy.
Read the full article here: Living Smart: Are You Properly Insured for Remodeling? | RISMedia