Insurance is often the last thing on a homeowner’s mind when making renovation plans. Yet, before any work begins, you should make sure that you are well covered during and after the renovation, in case of damage, injury or theft. Then you can proceed with confidence.
The renovator’s business insurance
Your renovator should carry commercial general liability insurance, usually with a minimum of $1 million, although they may carry more. This provides coverage in the event of damage to your home or neighbouring properties due to the renovation activity, or bodily injury caused to a third party. Your renovator’s insurance protects you – without it you could be liable for damages or injuries.
Ask the renovator for proof of liability insurance – a copy of the policy or a certificate of insurance. Take note of the limit and extension of coverage and the date the policy expires. Ask your insurance representative to review it to ensure that between the renovator’s insurance and your own policy, you are well covered. In addition, you should ask the renovator for proof of workers’ compensation for employees of the company.
Your own homeowner’s policy
Typically, a homeowner’s insurance plan is based on “regular usage of the home”. However, renovation is an “extraordinary” event that may fall outside your present agreement. That’s why it is important to inform your insurance company about the proposed renovation and clarify how it might affect your coverage.
Generally, a homeowner’s policy allows for repairs and renovations without jeopardizing coverage. However, you should discuss your renovation with your insurance representative.
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If you are thinking about a home renovation project, please make sure to give the home renovation experts at Ben Ozorak Construction & Design a call at
Whether it’s a kitchen, bathroom, or basement reno, we would love to show you the projects that we’ve done and give you a quote.