The Importance of Insurance in Renovation
Renovation projects can transform a home, but they also bring risks—structural damage, accidents, or unexpected costs. This is where insurance plays a crucial role.
1. Homeowner’s Insurance Check
Before starting, homeowners should confirm whether their current policy covers renovation work. Many standard policies exclude damages during construction.
2. Builder’s Risk Insurance
This protects against theft of materials, fire, or weather damage during renovation. It’s often recommended for larger projects.
3. Liability Coverage
If a worker or visitor is injured during the renovation, liability insurance ensures medical and legal costs are covered.
4. Contractor’s Insurance
Always hire contractors who carry their own insurance (general liability and workers’ compensation). This shifts responsibility away from the homeowner.
5. Peace of Mind
Proper insurance safeguards both finances and property, allowing the renovation to progress smoothly without unexpected burdens.
Takeaway: Insurance in renovation is not just protection—it’s a smart investment that ensures the project is secure, legal, and stress-free