Washburn, Wisconsin
76440 Paulson Rd
Washburn, WI 54891
(715) 779-3600

Insurance Considerations During a Home Renovation January 28, 2020

Washburn, Bayfield
Insurance Considerations During a Home Renovation, Washburn, Wisconsin

Homes under renovation incur a high potential risk of loss. Whether you are remodeling your current house, home building, or considering a custom add-on, check if your homeowners insurance policy covers home renovation. Even if it does, consider the following additional coverage during the process to protect yourself fully.

Contractor’s Insurance

If you’re hiring a general contractor, remodeling contractor, or subcontractor, ask if they have liability, property, and workers’ compensation insurance. Also, request a certificate of insurance. This document contains the necessary information on types and limits of coverage, the insurance company, the policy number, and the policy’s time periods. Make copies to protect yourself and all involved in case of the unforeseen during the home building process.

Vacant Home Insurance

Building ContractorAre you planning to leave your home during construction? If so, consider adding vacancy insurance to your homeowners policy. Typical insurance policies do not cover fire, vandalism, liability, or other unwanted damage while you are not residing in your home. This surcharge is usually about 25% of the home's annual premium, ensuring you are covered from damage or loss.

Dwelling Under Construction Coverage

This coverage protects building materials while they are in transit or on your property. It also allows you to replace them if they are damaged, lost, or stolen at any point in the renovation process. All rate changes are only applicable while you are building the house or leaving it unoccupied. Therefore, you should remove the coverage once the contractors complete the home renovation.

 

Contact the professionals at Dahl Construction Co. with any additional renovation insurance questions and get started on your home building project. This trusted general contractor helps homeowners in Bayfield, Washburn, and Ashland, WI, with new construction and home improvement projects like patios, decks, and room additions. Call (715) 779-3600 to get a quote, or visit them online to learn more about their services.

Other Announcements, Events and Deals from Dahl Construction Company
How to Design a Stylish ADA-Compliant Bathroom, Washburn, Wisconsin
Designing a handicapped-accessible bathroom in your home can make life easy for anyone in your household who has difficulty getting around. While the Americans With Disabilities...read more
3 Perks of Adding a Pole Building to Your Property, Washburn, Wisconsin
While pole buildings are commonly associated with farms, anyone with enough acreage can benefit from these convenient, multiuse structures. Below are some of the advantages you ...read more
4 Factors to Consider When Building a Home Addition Above the Garage, Washburn, Wisconsin
An over-the-garage home addition is a creative way to add some extra space to your dwelling. If you’re considering putting a bedroom above your garage, however, you must follow some ...read more
What Are the Perks of Asphalt Roofing?, Washburn, Wisconsin
Whether you need to install a roof on a new home or replace the one on your current residence, you might wonder which material is the wisest to use. Asphalt offers a wide variety of ...read more