Summer in Illinois is prime time for home improvement projects. Whether you're repainting your home's exterior, replacing the roof, adding on, or constructing a new patio, a home improvement project can not only beautify your home and add to its overall comfort, but also significantly increase its value. Don't undermine your considerable efforts by failing to consider your insurance & the insurance of those working for you!
Check Your Existing Policy
Do You Have Enough Coverage?
Take a look at your homeowner's insurance policy to decide whether you need to increase your coverage. Make sure that your policy will cover the cost of repairs and/or rebuilding in the event that your home is damaged during any improvement projects.
Do You Have Sufficient Liability Coverage?
Most homeowners' insurance policies provide $100,000 in liability coverage. You may want to increase this coverage, or consider purchasing umbrella insurance that will kick in to cover what your current homeowners' insurance policy does not. Talk to us about whether either of these options is right for you.
Will Increasing Your Home's Value Also Increase Your Premiums?
Talk to us about it before beginning a home improvement project. It's good to know ahead of time if you can expect an increase in your premiums as a consequence of your beautified home.
Check Your Contractor's Insurance
Always make certain that your contractor has the right types of insurance policies in place before beginning any work on your home. You have the right to ask for written proof of your contractor's insurance policy, and to contact his or her insurance provider directly should you have any questions or doubts. Call us & we will help in the review of their written proof.
Workers' Compensation Insurance for Contractors
Click here for a Workers Compensation Quote Request
Many contractors have employees, and those that do should also have Workers' Compensation in place. This type of insurance will protect your pocketbook should any of them become injured while working on your home improvement project. Without it, it could be you who ends up paying for their medical bills, lost wages, and more.
Liability Insurance for Contractors
Click here for a Contractors Liability Quote Request
Liability insurance is a must for contractors who do not have employees and therefore cannot purchase Workers' Compensation insurance. Such contractors may hire independent subcontractors to complete portions of your home improvement project. Your contractor must have liability insurance in place in order to protect you if your property is damaged or if any of the subcontractors become injured on the job.
Warranty Protection
Verify that your contractor offers a warranty on the work he or she does on your home. Typically, a contractor can provide you with a written warranty promising that either the contractor or his or her insurance will back the workmanship and materials that went into your home improvement project for at least one year.
Contact Hicks Insurance Agency & Associates, Inc. today to discuss coverage before you start your next home improvement project.