You’d like to do a few small repairs in your home. Before you start, think about home insurance!
Your home insurance coverage could come in handy
If your repairs cause damage
- Despite all the care you took doing the repairs, you suffered water damage or started a fire. Mishaps happen quickly! If your insurance policy covers the damage, you’ll be compensated even if your repairs caused it.
If a friend is injured while lending you a hand
- Having home insurance gives you peace of mind if someone is injured doing the work and you’re sued for the damages suffered. A lawsuit could be filed by a friend, who must prove that you’re responsible for these damages.
When to notify your insurer about your renovations?
Before you start on your project
- Depending on the scope of the project, your insurer will confirm whether you have all the coverage you need.
When you finish the project
- Depending on the improvements made, the insurer will adapt your policy and your premium, for example, if your home has increased in value or if updating your home reduced the risk of fire or water damage.
Know your limits
To limit the risk of accidents, it’s recommended you call in the professionals for work that exceeds your expertise.