Boston Property Management: Make sure your contractor is insured

Boston property management

Boston Property Management: Make sure your contractor is insured

Home-improvement projects should always be a lot of fun for you. However, not everyone is able to tackle them and have to hire contractors to do the work for them. A project means that you can get an extension at home or be adding a new bathroom. It is a horrible thing when your home-improvement project is ruined because of a contractor’s negligence. You entrust the contractor to take care of your home to make those improvements. If he is not careful, there can be a lot of damage. There have been scenarios where they have been break-ins, fires or flooding all because of the contractor.


It is too late to do anything as the damage has already been caused. The only way out is if the contractor has liability insurance. Unfortunately, if you have a high-end home, it is a different scenario. That is because they will have to file a claim with their homeowners’ insurance instead of the contractor’s insurance. The reason being that the homeowner’s insurance policy will give you a better experience and more insurance coverage. Sometimes the policy is for a certain amount but the damage could be more than what the policy covers. When you file a claim with your insurer, they will seek reimbursement from the contractor’s insurance company. A high-end home usually is not covered by the contractor’s insurance as there will be items which won’t be covered by his insurance.

The cost of Home Renovation

It is estimated that people will spend around more than $300 billion from April 2017 to March 2018. Data also shows that claims for damage done by contractors are really low as most of them are filed under the contractor’s policy.

Boston Property Management: Stress-free Renovation

Not all renovations are stress-free as something or the other occurs from time to time. A good idea is for you to get in touch with your insurance agent before you take on a home improvement project. That is a good way of finding out whether you have the right amount of coverage or not. You may never know if your coverage has ended or if you need to extend it. If you are lucky, you could even get an insurance discount.

Vet your Contractor

Lastly, before you start working on the renovation of your home, you should ensure that your contractor is fully vetted. Make sure that he has a license and has adequate insurance. A good contractor will also ensure that his workers are covered too. The coverage includes medical care and lost wages. If he doesn’t have coverage, it could fall upon you.

Also, keep copies of everything so that you know there will be no issues. Finally, you should take inventory of everything at home so that if there is a loss, you can make a claim.

We hope you liked our post “Boston Property Management: Make sure your contractor is insured”.









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