Are you adequately prepared to remodel your home?
Warm weather is the perfect time for home remodeling projects. Building an office, bedroom or an extra bay in your garage are all great ways of modifying your home to suit your growing personal needs.
As you add to your home; however, talk with Century Insurance Agency to make sure you are still adequately insured so you’re fully protected against a covered loss. Depending on the addition or improvement, you may need to increase your level of coverage.
Some homeowners may be tempted to save five or ten dollars a month by not informing their insurance companies about the changes they’ve made. That approach can have severe financial consequences if you have a large fire or other major loss. You could find yourself on the hook for tens of thousands of dollars—all to save a few dollars in the short run.
The following tips could help you adequately insure your remodeled home so you can avoid one of the common pitfalls of home improvement projects:
- If you’ve recently remodeled your home or built an addition, contact your independent agent immediately to determine if you need to increase or change your coverage.
- If you’re planning a remodeling project, contact your independent agent before construction begins. If your new addition is damaged or destroyed before the new coverage starts, you may be responsible for the repairs and rebuilding costs.
- Make sure the contractor is properly insured, bonded and registered through the Department of Labor & Industries. Ask the contractor to show you copies of the bond. You also can check if the contractor has any complaints filed against it by looking online at http://www.lni.wa.gov.
- Check references to verify the quality of the contractor’s work. To find a reputable contractor, check with your local homebuilders association.
- If you buy additional items such as furniture, exercise equipment and electronics, you may need to increase your coverage for personal possessions. Talk with Century Insurance Agency. Keep the receipts, take pictures of the new items and keep them with your home inventory.