Home renovation tips

Considering doing your own home renovation project? Here’s what your insurance provider should know before you start.

For those willing and able to do their own home renovations, there can be many upsides to doing so. Pride of accomplishment. Working on your own schedule. And, of course, learning what’s really behind your walls, under the floorboards, or in the attic. Having a plan for your home renovation is the first step to take. With a plan in mind, it’s then the perfect time to have a chat with your broker about your renovation project. So, what should your broker know before you begin work? The following are important items for your broker and insurer to know:

Do you plan to alter any load-bearing elements?

Let your broker know if you plan to remove a structural post and add a beam to create an “open concept” space or if you intend to make any structural changes, including removing load bearing walls. Such changes are common in older houses that need to be “opened up” to provide natural light and create a larger living-space, but they need to be done right. Your broker will also want to know if you plan to alter the roof structure, including adding dormers, or changing the roof’s pitch.

Do you plan to add an addition, another storey, or expand the existing structure of the house? Let your broker know about any additions you plan to make to your house. The changes you plan could involve everything from altering load-bearing elements to updating electrical and plumbing.

Do you plan modifications to the existing foundation?

Let your broker know the full extent of any alteration to your house’s foundation. That includes the underpinning and foundation benching. As it’s critical to supporting your house, changes to the foundation are an absolute must to get right and it is critical that this type of work be done by an experience contractor.

Do you have the correct permits for the work involved?

Let your broker know that you have obtained all of the permits necessary for work to begin. You may have to contact local authorities to learn exactly what you need for work to start.

Do you plan to have any work done by a specialized tradesperson?

Let your broker know if you plan to hire a professional (plumber, electrician, or other tradesperson) to do some of the renovation work. You’ll want to ensure that the person is registered and licensed for the work they are to perform and that they have the insurance coverage that is required to protect both them and you. Your broker can provide guidance on the minimum limits your contractor will need to have in place.

The bottom line?

Let your broker know if you’re planning to do a home renovation project. You’ll want to ensure your risks are covered before you begin. Your broker can help guide you in ensuring that you’ve got all the right insurance coverages in place before work begins or if additional coverage is required.