7 things to know before starting renovations

1- Always notify your home insurer about your renovations

Before picking up a hammer, make sure you reach out to your home insurance provider. Some renovations might affect the level of coverage you need or the risks you need to insure against. It’s a good idea to update your home insurance renovation coverage before the work begins. Keep your contract handy when you call—this will allow you to ask any questions before the saw starts cutting! An insurance agent will review your policy to confirm what's covered and what’s not, and they might even suggest a more tailored coverage for your specific project.

2- Choose your contractor carefully

Certified professionals should handle certain renovations. Ensure all the contractors you hire have liability insurance to cover any potential property damage or bodily harm during the job. Some insurers even require proof of this coverage before any work can begin.

If you're hiring a contractor for construction work, ensure they have a licencse from the Régie du bâtiment du Québec (RBQ) (French only). Never underestimate the risks of hiring an unlicensed contractor. Educate yourself with helpful tips on choosing the right renovation professional. Find out if they have comprehensive personal liability insurance coverage.

3- Personal liability coverage has you covered in case of injury

Accidents happen in the blink of an eye. What if someone gets hurt on-site? Your home insurance’s personal liability coverage protects you in the event of lawsuits stemming from accidental injuries during your home renovation. Before starting, check that your liability coverage is adequate, especially if visitors will be frequently on your property, whether inside or out.

4- Property damage caused by the homeowner is covered

When a homeowner takes on renovation work themselves, there's a risk of accidentally damaging their property. Most home renovation insurance policies cover accidental incidents. You might be compensated even if the damage resulted from a lack of experience. Your insurer won’t cover the cause of the damage, but they will cover the consequences!

5- Home insurance during renovations may come with exclusions

Home insurance policies may have exclusions when it comes to renovations. It’s crucial to check ahead of time with your home insurer! If the homeowner carries out the work without proper permits or an unlicensed contractor is hired, your insurer may refuse to cover damages caused by a mishap. This is why verifying with your insurer before starting any renovations is essential. The need for additional coverage typically depends on the type of renovation you're planning.

6- A minimum level of occupancy is ideal during renovations

It’s recommended that the house not be left unoccupied for extended periods while renovations are underway. For example, vacancy increases the risk of theft, vandalism, or water damage. Some home renovation insurance companies may even require you to take preventative measures, like scheduling regular property checks or adding a specific policy for vacancy, before starting renovations. Keep in mind that exclusions may apply.

7- Review your home renovation coverage after the renovations

Renovations often involve not only purchasing materials but also adding new furniture or equipment. It’s essential to ensure that your existing coverage protects these new additions. Consider the value of your investment and adjust your coverage accordingly. You’ll likely need to re-evaluate your home’s rebuilding cost as well. Once renovations are complete, review your home’s value to ensure adequate home insurance coverage in case of a claim.

Did everything go smoothly with your project? Fantastic! Time for a well-earned break...until the next round of renovations!