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Six Ways To Protect Your Assets When You Remodel Your Home

Even if your remodel project will result in a more beautiful home, the remodel itself can test your patience and your wallet. During the process itself, you’ll need to protect yourself and your assets. Before beginning the project, do some research and think about these six tips.

Contractor

Make sure your contractor has general liability contractor insurance as well as workers’ compensation for its employees. Someone hurt on your property could become your responsibility unless they have their own insurance. Most reputable contractors have insurance for the worker but small general liability insurance coverage. Research the contractor to be sure they have the proper coverage. You can verify the insurance through contractor’s insurance company.

Homeowner Policy

Review your home policy before construction starts and talk to your insurance company about adding to your policy during the remodel. There are many problems that can occur from natural disasters during a remodel like damage from strong winds knocking down a wall or rain threatening a partially completed roof. When parts of the home are open to the elements, this could be asking for disaster to strike. It can cost thousands to repair or replace damage from a fire, rain or theft. It’s better to add to the insurance policy to cover the damage. Most insurance companies have a policy add-on called builder’s insurance that will cover the home during construction.

Expensive Belongings

When a house goes through a remodel, there are often open areas that can allow thieves to slip in and burglarize the home. Small but expensive items like jewelry, paintings and figurines should be deposited into a safe deposit box at the bank. If the items are larger, consider a storage unit to keep the items safe until the remodel is over. Storage units have insurance to guard against theft and natural disasters too. Insurance may cover the cost of these items but it’s often better to avoid the problem from the start.

Alarm System

A home under construction can be a magnet for thieves. They see open spaces as invitations to enter the home to steal your belongings, or the tools left behind by workers. Keep the home well-lit at night to deter burglars. Talk to your alarm system company about what can be done regarding open entrances or those covered with only plastic. If there are open areas accessible to the outside, install motion detector flood lights for the outer wall of the home. When a burglar tries to enter, the floodlight will illuminate him or her, which usually scares most thieves away from the home.

Security Cameras

If you’re going to be away during the remodel or construction of your home, consider adding a security camera. You can watch your home remotely on your smartphone or computer while you’re away from the action. This will help you watch the construction workers as well as see if a thief tries to enter your home at night.

Covering

Aside from serious problems like theft, fires and floods, dust can become a serious issue in the rest of the home. Some people leave while construction is going on, but other people don’t have that option or resolve to stay in their home regardless. Dust can get into every nook and cranny of a home making it difficult to breath. Seal off doorways to keep construction dust from traveling into other areas of the home. Cover furniture if possible with plastic or dust coverings until construction ends.

The construction and remodeling phase of the home can go smoother when you research potential contractors before the job; think about insurance coverage of the contractor and your home owner policy and keep your home and family safe by removing valuables and contacting your alarm company.