With the fast approaching warm temperatures hitting Northeast Florida this spring, many people are looking to make major improvements and repairs to their homes. These may include the replacement or expansion of your AC system, adding a room, remodeling a kitchen or bath or building a porch. In all of these cases, you need to make sure you are protected from any potential liabilities during renovation or home improvement work on your property.
To avoid problems before work begins, you need to know several things. First, what will happen if damage occurs during your work project? Secondly, who will be responsible for the coverage? And third, who is liable?
Before you start any major home repair or renovation, let your J.P. Perry agent know the specific details of your home project so they can provide guidance as to what your existing homeowners policy covers and doesn't cover. Sometimes it is necessary to have additional coverage with policies called "dwelling under construction" or "renovation insurance." Or you may need to increase the liability section of your policy if you are planning to do the work yourself or with the help of friends and family.
When hiring a contractor, you need to verify their insurance coverage to make sure they have business/general liability insurance and workers compensation. You need to check further if there is any coverage in case of shoddy workmanship or defective building materials.
Home improvements can increase the value of your home, usually on the average of 25 percent. So your homeowners policy may need to be adjusted to cover that new value. And with the continuing increase of building materials, you should consider insuring your home for replacement value instead of market value.
You also need to check with your agent regarding updates to your plumbing, heating, roof, electric or security systems because you may qualify for discounts on your policy.
So remember, before you start with those Springtime home improvements, check with your J.P. Perry agent to make sure you are covered in the process.