Are you preparing to rehabilitate an older home or a residence that has been severely damaged? If so, you may need to modify your home insurance policy while the project is underway to ensure adequate coverage.
Liability Coverage
One important area to focus on is the risk of injury or damage occurring during the rehabilitation project. Residential liability coverage can protect you against unforeseen mishaps.
If someone is injured on your property, liability insurance may cover medical expenses and other costs you incur as a result. You have the option to add as much liability insurance as needed to your existing home insurance policy to ensure comprehensive protection.
New Material Protection
Another consideration is the protection of materials that will be installed during the project. New materials are vulnerable to damage from natural disasters or criminal activity.
If you are concerned about the potential loss of new materials, insuring them can provide financial relief. Residential insurance coverage can help cover the cost of materials that become unusable during the rehabilitation process.
Equipment Failure
Equipment theft or damage during a catastrophic event can leave you responsible for replacing essential tools needed for the project. It’s wise to assess the equipment you own and decide whether to add coverage for each piece to your home insurance policy.
Insurance Support From an Agent Serving Oviedo, FL
Contact one of our agents at Karla Salmon Insurance Agency. An agent will review your home insurance policy and provide guidance to help you choose the type of coverage you need for your upcoming home rehabilitation project.
