Before embarking on a residential renovation, consider the risks and benefits. After reviewing your renovation plans, choose home insurance coverage that will adequately protect you, your loved ones, and the materials used for the upgrade.

Risks Associated with The Renovation

During a renovation project, injuries or damage can occur. Slips and falls or injuries caused by fallen debris are more likely. If machinery or tools malfunction, someone could get hurt, and damage to another person’s property could also occur.

Examine the risks associated with your upcoming project. Consider increasing the liability protection your home insurance policy provides. Liability protection covers personal injuries and property damage that occur during the renovation process.

Benefits Associated with The Renovation

Completing a renovation will increase a home’s use and resale value, which may convince a homeowner to insure the materials used for the renovation.

List all the materials that you plan on using during the renovation project. Document information about the value of the materials. Consider the likelihood of the materials becoming damaged or stolen in the future.

Personal property insurance will protect new materials in the event of a natural disaster or criminal activity. The coverage you obtain may cover the cost of repairing damaged materials or replacing them with new ones that are similar to the ones that have been damaged or stolen.

A Consultation With An Insurance Agent

Contact one of our insurance agents serving Boca Raton, FL. An agent at Coastal Premier Insurance Group will consult with you about the proposed residential renovation project.