Home remodeling time: 9 things to know about insurance coverage

by lcmremodel

As the weather improves, many homeowners start planning major remodeling or renovation projects. According to Statistic Brain, in the next two years 26% of homeowners plan a bathroom renovation or addition and 22% plan a kitchen renovation or addition.

I’ve been through five major remodeling projects, including rebuilding after Hurricane Sandy, and I’m planning a full kitchen remodel next year. I’ve learned a lot about the insurance coverage issues for the homeowner, the contractor and the subcontractors, and I’m sharing what I’ve learned.

Some people (like me) hire a general contractor to manage the renovation process while others prefer to manage the project themselves. Some homeowners are willing to be do-it-yourselfers and actually do some tasks while hiring licensed subcontractors for plumbing and electrical work.

However you choose to remodel, keep this in mind: The homeowner, the general contractor and the subcontractors—plumbers and electricians, for example—all need insurance coverage.