As licensed painters in Sydney, we know just how busy and stressful home renovations can be. We see firsthand what’s involved and where people go seriously wrong. Did you know some home and contents insurers won’t cover you while you are renovating? Depending on how big the renovation is of course. This means, if anything happens, you simply won’t be covered! Let’s take a look at everything you need to do with your insurance before you start renovating! And if you’re unsure check with your insurance company. It’s better to be safe than sorry!
How do I know if my Home and Contents Insurance is valid during a renovation?
Basically, it’s imperative you check everything with your insurance company before you start your renovation. There are different levels of risk. For example, if you’re renovating your kitchen, you’re most likely not tearing down any of the external structure. This means your doors and windows will still lock. Your policy will probably still stand. If you are pulling down external walls, that’s an open door to thieves. Some insurers won’t cover you for this sort of renovation. But, don’t worry, you can still ensure you’re covered!
Top 6 tips from our licensed painters Sydney to ensure your home insurance policy covers you
As licensed painters in Sydney, we are often part of renovation projects, both large and small. We know renovations add value to your home. But not being covered by your Home and Contents insurance could reverse all of that possible profit! Here are our tips to ensure your renovation is safe, insurance wise.
1. Talk your insurer
If your insurer doesn’t know about your renovation plans, you may not be covered should anything go wrong. It’s also important to talk to them about exactly what will be covered, if anything, during the renovation. If you know where you stand from the beginning then you can make alternate arrangements if need be.
2. Talk to your builder
Sometimes a builder may have an insurance policy in place that will cover the entire structure. Other times their policy will only cover the section they’re working on. So always ask! Communication is key when it comes to renovating your home.
3. Vacating your property may void your policy
Yes, living through a renovation is a bit hellish but if you vacate, check with your insurer what this means. Some policies become void if you’re not living at the property depending on how long you won’t be living there.
4. Projects over approximately $50,000 aren’t classed as renovations
Some insurers won’t cover you if your project is valued at over $50,000. This is because the project is no longer classed as a renovation. Your home becomes a building site instead. And there’s a different type of rules and regulations when it comes to your insurance.
5. DIY renovators need extra cover
Some insurers won’t cover homeowners undertaking their own renovation projects.
6. Your trades must be insured too
This is the biggest one to remember. It’s essential that you use licensed builders, licensed painters and other licensed trades. Don’t take their word for it, check that all their licenses and insurances are up to date!
So, if you’re planning on renovating, be safe! If your current insurer isn’t interested in covering you during your renovation, ditch them! You can search and compare insurances agencies easily online. There’s no reason you can’t easily find the right insurance policy to cover your renovation.
Need a licensed painter in Sydney?
As licensed painters, we have all the relevant licenses and insurances in place. We also have years of experience and we know it’s always better to be safe rather than sorry! If you’re needing a professional licensed painter in Sydney, contact us today!
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