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Homeowners Insurance

Homeowners Insurance

Homeowners insurance protects your home and your investments under a wide variety of circumstances. When you’re remodeling your home, it’s a good idea to secure a quality homeowners insurance plan. Remodeling a home is a great way to increase its value, but there are significant risk factors involved with a remodel. The contractors that you hire could be negligent and potentially damage the home. Additionally, it’s sometimes hard to tell who you’re hiring and you never know if they have intentions to steal. Of course, it’s important to talk over these coverage options with your insurance provider, as every plan is subject to its own terms and conditions.

Homeowners insurance can protect you from contractor negligence

Homeowners insurance can often protect you from what is known as contractor negligence. This is when one of the contractors that you have hired does something which jeopardizes your remodel. They could fail to tell you about something that needs to be fixed, accidentally damage something in your home, or even steal possessions from you out of your home. These are all cases where it’s very important to have homeowners insurance by your side. Homeowners insurance will generally provide coverage in cases of theft and damaged property. This could not only save you from a huge headache, it could protect your budget and finances. During a remodel, contractors have a lot of responsibility on their plate. If they aren’t careful, they could cost a homeowner thousands of dollars by making the wrong move. For instance, load bearing walls are present in all homes and a professional contractor should know how to spot them and avoid them. Unfortunately, not all contractors are professional and there have been times where contractors have accidentally removed a load bearing wall, only to watch the entire roof come falling down. It’s a very unfortunate situation for the homeowner but if they have a quality homeowner’s insurance plan, they should be well protected.

Protection from fire and water leaks

Another serious issue that can arise during a remodel is a fire or water leak. You never know how adventurous your contractor could be, when they don’t really have the background or experience for it. Electrical and plumbing work is best left to a professional because if your contractor makes the wrong move, your house could be absorbed in flames or taken over by a self-caused flood. Homeowners insurance is there to protect you in case something like this was to happen.

Homeowners insurance protects you from theft

While you may trust the contractors that you hire for the job, you never really know what their true intentions are. If you do fall victim to theft, it wouldn’t be the first time that it has happened. Be sure to purchase homeowners insurance prior to your renovation because the contractors you hire for the job might not really be who you think they are. If they were to steal something from you, homeowners insurance could provide the replacement funds. Without it, you would have to absorb these costs all on your own and anything the contractor took could be long gone.

Author Bio: Nancy Connors works for HomeownersInsurance.net an informational website that provides all sorts of articles related to homeowners.

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