How Remodeling Affects Your Putnam Homeowners Insurance – Part 2

How Remodeling Affects Your Putnam Homeowners Insurance – Part 2How Remodeling Affects Your Putnam Homeowners Insurance – Part 2

In the first part of this post, we looked at how a remodeling project could impact your Putnam Homeowners Insurance policy. Typically, your insurance policy is the last thing on your mind when starting a project like this, however it should be on the forefront. The most important thing to remember when hiring a contractor to help you complete your remodeling project is how he is protected.

If the contractor doesn’t have adequate insurance protection, covering not only himself but also his employees or potential sub-contractors, then they could end up suing you if they are injured or an employee is injured. While having a Putman Homeowners Insurance policy, and even and Putnam Umbrella Liability policy plan in place can protect you financially to a certain limit, it’s better to only hire a contractor if they are licensed and bonded.

Many people don’t know that when hiring a contractor, they are allowed to ask to see their contractor’s insurance policy. Because they are unaware, they often don’t think to ask for it, and/or assume they’ll be fine with just the most basic Putnam Homeowners Insurance policy. However, there are three major components of a contractor’s insurance policy that protects them and in turn protects you as a homeowner. These components are:

Workers Compensation- This applies when an employee or sub-contractor gets injured on the job site. The policy covers medical/rehab expenses and lost wages for the worker.

General Liability- This policy covers negligence on the contractor’s part which causes injury or property damage to others.

Builder’s Risk- This is a vital insurance component for remodeling projects, since it covers damage to your home and materials, including materials that haven’t been installed yet.

As you can see, while having the proper Putnam Homeowners Insurance Coverage will certainly help you should you be held liable, it’s imperative that your contractor have their own protection. To learn more about the extra coverages we offer at the Byrnes Agency, please contact us at one of our various locations listed below.

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Dayville Office

Phone: (860) 774-85
394 Lake Rd
Dayville, CT 06241
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm

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Norwich Office

Phone: (860) 886-5498
6 Consumers Avenue
Norwich, CT 06360
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm

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Woodstock Office

Phone: (860) 928-7928
1226 Connecticut 169
Woodstock, CT 06281
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm

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