It doesn’t mean you need to buy insurance if you want insurance for home improvements. It’s not a bad idea, however. This is especially true if you’re going to do the home improvements yourself.
What if you’re going to hire someone else? What can you do to protect yourself against any damages that may occur while they or their crew are working? There are many ways you can insure yourself. This might sound like a play on words.
Find Your Contractor
First, get to know the person doing the work in your home. This is probably the most important first step you can take. This doesn’t necessarily mean that they must be a reference, or that you must know them personally.
There are many ways to verify that they are legal. When you’re looking for a contractor, the courthouse is a good place to start. You can look up their business name and name. Look up any legal history. But, a lawsuit does not necessarily mean that the contractor isn’t legitimate. Ask about any lawsuits that raise alarm. A handful of lawsuits should be enough to cause concern.
Interviewing contractors should be viewed as a job interview. Ask them questions. A legitimate contractor will not have any trouble answering difficult questions. Substandard contractors will try to dodge bullets.
Ask about their experience in the business. Ask about complaints and lawsuits. Ask for references. Ask for references. Next, ask the hard questions.
Ask them if you are licensed or bonded. Ask them about their insurance coverage. It is important to know who is responsible for any damage to your home or that of your neighbor. If they are doing a job on my house, I would ensure that they were responsible. Make sure that they clean up after they’re done.
One of the most important questions is whether hidden fees are involved. Who will secure the permits? It is best that the contractor is responsible to secure any permits you require. Is the job done when the contractor says it is? This may seem like an odd concern. However, sometimes contractors will leave you with more work than expected. You find out that the contractor didn’t deliver on their promises and that the job wasn’t as you expected.
Get Insurance in Place
All documentation should be in writing Make sure to get everything in writing. Think about all contingencies. Talk to neighbors about the contingencies. Talk to others who have had the job done at their homes. Talk to your insurance company to learn about temporary insurance that you may be eligible for while you are working on a home renovation.
A temporary insurance contract might seem expensive. Imagine the potential damages, if any. If you’re not covered, it could be a catastrophe for you. However, you should first check your existing policy. You may already have the insurance that covers any damage you might sustain while working on any home improvements.
Ask your agent. If you are sure you have the right insurance, they will not try to sell you anything. Although it is a terrible thing to do, a smart agent will sell you insurance that you don’t really need. It’s almost impossible to get your money back from insurance companies if you discover you’ve been duped.