Your Homeowner’s Insurance

houses-691586_1280Texas Homeowner’s Insurance Update

Many people are foregoing a new home for an upgrade on their existing one.  Have you attempted to hire a contractor lately?  It is next to impossible.  As you consider any home improvement, you will need to adjust your homeowner’s insurance.  A new coat of paint will not increase your replacement value, but a new bathroom or kitchen remodel will.

Some risks may be covered under your homeowner’s insurance, but many are not. For example, if you hire a roofer to replace your roof and one of the installers falls, your homeowner’s insurance will not cover the injury. You will need to make sure that the roofer has workers’ compensation coverage.  If you hire a friend to help you with your renovation project, your homeowner’s insurance may not cover their medical bills in the event of an accident. If your friend causes damage to your home, he or she could be liable for the damage.

Here are a few tips to keep you protected

  • If you “do it yourself”, remember your homeowner’s insurance will not cover your medical bills.
  • When hiring a contractor, make sure they have liability and workers’ compensation insurance.
  • Check references. Or even better, ask friends for a referral.
  • If your home is going to be vacant, you will need to notify your agent.
  • Never pay 100% up front.
  • Ask the contractors for their bank contacts and list of sub-contractors. Then, verify the contractor’s line of credit with the bank.
  • Any work done on a roof must be done per OSHA standards.
  • Make sure all work is done to your satisfaction before you write that final check.

Locally owned and operated, Nichols Insurance Services has delivered quality insurance solutions to individuals and businesses throughout North Texas for over 20 years. We specialize in Home, Auto, Business and Farm insurance coverage. With access to multiple insurance companies, our team of experienced insurance professionals is committed to helping you find a policy that custom fits your needs. We focus on providing personalized attention and quality customer service to create an experience that’s difficult to find in today’s market. At Nichols Insurance Services, we’ll work with you to ensure you get the most comprehensive coverage at the most competitive price year after year after year.

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