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What you need to know about home renovation insurance

Home renovation insurance protects homeowners from the risks that are associated with improving a home. Home improvement is a duty that every owner must undertake from time to time. This responsibility is felt more by freeholders. Freeholders are expected by law to perform major home repairs such as the construction of roofs, strengthening of pillars and insulation of walls. These tasks carry their own risks. Homeowners usually focus their minds on improving their homes rather than the potential risks that can befall the house during improvement. A home is usually very vulnerable during improvement. Its foundations are weak, its roofs are leaky, and it is open to people who cannot be fully trusted. That purpose of home renovation insurance is to protect homeowners from financial losses that come with home reconstruction.

Why do you need home renovation insurance?

Buildings, especially houses, can easily catch fire during renovations. Houses are usually supplied with gas and electricity. These are the biggest fire hazards. Workers may ignore gas leak warning signs or encroach on electric fuses that are easily short-circuited. A pole of brick may also cut electrical wires and cause fires. Some tools that are used during home renovations are other potential causes of house fires. One of these is the welding machine. A welding machine carries highly inflammable gases and produces thousands of degrees of heat. The smallest carelessness in the use of a welding machine can cause dangerous fires. A standard fire insurance cover does not protect property from those fires that occur during renovations. These have to be insured separately if the owner wants to be in a peace of mind during the renovation of his home.

What do home renovation insurance cover?

Houses are in danger of destruction from natural causes during renovations. Roof repairs leave ceilings and tiles at the peril of wind. High winds can easily blow off a roof that is only partially covered. A partially covered rooftop offers resistance to the flow of wind. This resistance leads to a build of energy that eventually causes the roof to be blown off. Rains may also cause discoloration of ceilings and rusting of the home appliances that are made of iron. These are events that are never preplanned by homeowners. The owners usually focus on repairing a given structure without giving much regard to potential collateral damages of other structures. Insurance firms have come up with various covers for damages that are caused by natural disasters. Winds and rain are just examples of these disasters. Others are floods, earthquakes and landslips.

Homes that are being renovated are usually very open to thieves and vandals. Even the workmen themselves cannot be totally trusted. They may be tempted to steal a thing or two from the house. The last thing on a home owner’s mind is losing his properties when he is doing home renovations. The homeowner expects everything to be better after repairs, and not be accosted by expenditures that occur because of theft. There are insurance policies that will protect you from the financial losses caused by theft during a home renovation.

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