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Check Your Coverage, Does Your Homeowners Insurance Include Renovations?

An essential element of renovating is insurance. It is as important as the design because you can end up in a legal or financial minefield if it goes wrong.
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An essential element of any renovation is insurance. It is as important as the design because you can potentially end up in a legal and financial minefield if anything goes wrong. So the best way to protect yourself and your family is to cover the insurance aspect of your renovation before the project begins.

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Why You Need Insurance For Your Renovation

We are experienced at renovations with many completed projects. While we hope for a smoothly executed renovation for every project, there are times when things go wrong, and everyone needs to be protected.

A stylish bathroom renovation from Nouvelle

So here is why we think the right insurance is essential for every homeowner starting a renovation:

Things Happen Outside of Our Control

We can’t control everything. It’s impossible. When nature unleashes winds, storms, fires, hail, and floods, we have to cope until it passes. 

And, if you are about to renovate, you need to understand what your insurance covers and purchase extra if you need to for peace of mind in case something happens.

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Renovations May Harm Your Existing Home

With tradespeople and builders being on your property while executing your renovation, there is a possibility that something may go wrong due to human error. It could be as simple as crushed plants, things spilled, or worse, a hole made in the wrong wall.

The thing that is vital for you to know is what areas your building insurance covers and what falls under the insurance of your tradespeople.

What Are Your Insurance Conditions?

Check the product disclosure of any insurance that you purchase. Before buying, make a checklist of what you need and use it when shopping for the best policy to know what will be covered.

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Add Value to Your Home

Apart from improving your living conditions, the other key reason you may renovate is to add value to your home. Whether you are updating your kitchen or adding an extra room, you also need to inform your homeowner insurer. 

They need to reassess the value of your home and adjust your premium if necessary to ensure you are fully covered.

Start By Checking Your Homeowner Policy

Before purchasing extra insurance for your renovation, contact your current homeowner insurance provider and check what your policy covers. You may already have the cover you need or be able to extend your policy to cover the requisite elements, or you may require an additional policy.

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When you contact them, make sure you have the details of your renovation. The type and scale of your renovation will affect their advice.

Contact Nouvelle About Your Renovation

If you have questions about your renovation or remodel, contact us at Nouvelle.