Do I Need Homeowners’ Insurance to Renovate My Home?

Naturally, you may want to renovate your home every so many years, for the sake of its upkeep and overall improving its beautification. These renovations may range from small do-it-yourself projects to large undertakings that require the enlisting of a general contractor. Regardless of what improvements you intend to make, it may be sound to review the terms and conditions of your homeowners’ insurance first. Or, to buy into this insurance type if you do not already have it. Follow along to find out whether you need to carry homeowners’ insurance to renovate your New York State home and how one of the proficient attorneys at The Law Office of Craig A. Blumberg can also provide tips for dealing with an insurance claim.

Do I need to carry homeowners’ insurance to renovate my New York State home?

Here at The Law Office of Craig A. Blumberg, we always advise our clients to carry homeowners’ insurance for their New York State home. This is because, while this insurance type is not necessarily required by state law, it is better to be safe than sorry. But this is especially relevant if you are considering a renovation project in the foreseeable future.

For one, say that you are pursuing a do-it-yourself renovation in which your friends and family members are volunteering their services. In this case, you should ensure you have enough liability and medical payments coverage within your homeowners’ insurance policy. So, if someone gets injured on your property and sues you for compensation, you can have approximately $100,000 to $500,000 in liability coverage and $1,000 to $5,000 in medical payments coverage.

On the other hand, say you are pursuing a grand home improvement project in which you hire a professional contractor. In this case, you should consider adding an umbrella policy to your homeowners’ insurance. This is so, if a contractor or their employees get injured on your property and sue you for compensation, you can have approximately $1,000,000 to $5,000,000 in additional coverage.

What other considerations should I make before renovating my home?

Besides your homeowners’ insurance policy, there are other considerations you should make so you do not get sued or otherwise in any other trouble during your renovation project. Such considerations read as follows:

  • You should consider whether your renovations would increase your home’s replacement cost and subsequently the cost of your needed homeowners’ insurance policy.
  • You should consider whether you need to buy into a vacant home insurance policy if you vacate your home during the renovations for longer than 30 days.
  • You should consider whether your hired contractor carries workers’ compensation insurance and/or general liability coverage.
  • You should consider whether you need permits before starting work on your home (i.e., plumbing and electrical permits).

What you need is likely strong legal representation from a talented attorney from The Law Office of Craig A. Blumberg. We are ready to provide you with tips for dealing with an insurance claim, along with other facets of legal assistance. Call us today.