Quarve Contracting
Monday 26 December 2016

Minneapolis Homeowners: Check Your Insurance Policy Before Remodeling!

Posted by at 9:09 AM

For homeowners in the Minneapolis area, the long winter months are a good time to plan out all those home improvements you want to do next spring. 

office-1575874_640As an exterior remodeling contractor here in Minnesota, we often meet with homeowners in the Twin Cities at this time of year to talk about their projects.  And we highly recommend having a good plan before getting started.

There are many stages involved in planning a renovation, including consulting with contractors, architects, and designers. You'll also be searching for just the right siding colors, flooring, or window hardware, while still doing your best to stay in budget.

Check Your Homeowner's Insurance When You're Planning a Home Renovation

But one important factor that people tend to forget about as they are planning remodeling is their homeowner's insurance policy. Home renovations often require an increase in insurance coverage either while the work is occurring or afterwards. Consulting your insurance agent is an important step that could save you a lot of trouble in the remodeling process.

When you meet with your agent, they will ensure you have sufficient "limit of property" insurance to include the value of the renovation when complete. They'll re-assess the entire policy, check for adequate coverage, and make changes as necessary.

Also if you're planning a bigger project, such as an extensive remodel or re-siding  your home, you'll want to get in touch with your agent early on in the process. Large renovations will increase the value of your home and most likely raise your insurance premiums as well.

  • Another reason to ensure that your homeowners' policy is up to date prior to renovating is the aspect of unforeseen accidents or damage. Hiring a Minnesota licensed home remodeling contractor is the best way to avoid problems, but issues still arise at times. In the event of a small electrical fire or a pipe leak causing floor damage, a properly written insurance policy will serve as protection from a claim against you as the homeowner.

While reviewing your homeowner's policy may seem like an extra step in the process, it actually plays a very important role in the success of your finished home improvement project.

And when you're ready to get that project underway, contact Quarve Contractors via our online form or call us at (763) 785-1472. Our licensed and insured Minnesota home remodeling company services the entire Minneapolis-St. Paul metro.