Home Improvement Projects May Contain Unforeseen Costs

Somebody once said that New York State has two seasons - winter and construction. Now that winter has ended, many homeowners will launch home improvement projects, such as decks, painting, and maybe even new additions to their houses. When the hammers, saws and ladders come out, don't forget about insurance. Remember always ask to be a named insured on your builders insurance policies.

Home improvement projects can create special dangers. A friend helping you with the job may fall off a ladder. A child's playmate might investigate an unattended power tool and get hurt. The wind could blow spray paint you're using all over your neighbor's red car. The Personal Liability coverage of homeowners and renters insurance policies may cover the costs of accidents for which you are legally liable and the expense of lawyers to defend you, if necessary. For extra protection, consider an umbrella policy. An umbrella provides more coverage when you've used up all of the liability insurance under your homeowners or automobile policies, and may cover losses that those policies don't cover, such as accusations of slander or libel.

Potential lawsuits aren't the only risks. Some projects may take an extended time to complete, requiring extra equipment and on-site storage facilities. Lumber, drywall, paint or special tools can catch fire. Thieves could help themselves to your supplies. The homeowner's property insurance policy may cover some of these losses.

Many do-it-yourself warriors will try to cram lumber and supplies in a car's trunk or wedge them into the back seat with building materials protruding from the windows. This can damage other vehicles and cause serious injury to passengers in the car. Your automobile insurance policy's Liability and Personal Injury Protection coverage's may pick up the costs if something goes wrong.

Remember that when you improve your home, you also increase the cost of rebuilding it. Having enough insurance to cover the cost of replacing the home is essential. If you built a home for $200,000 three years ago and have since added on without changing your insurance, a loss will catch you short. Tell your insurance agent about any improvements. Also, ask your agent about more coverage if you plan on a property addition, which would produce rental income. This is a business venture and your basic homeowners insurance may not be covered.

If you have insurance questions please call Lester Robinson at 1-800-836-2040 or e-mail at lrobinson@thenorthwoodscorp.com

For a quote on your Auto and Home Insurance call Lester Robinson at 1-800-836-2040 ext. 3014 or go to website at http://www.wnyinsurance-quote.com/html/quotes.html

Lester J. Robinson III, FICF, CC

Insurance Broker

The Northwoods Corp.

8810 Main Street
Williamsville, NY 14221

Phone: (716) 626-0004 Ext. 3014

Fax: (716) 626-5057 Att: Lester

lrobinson@thenorthwoodscorp.com

See "the ABC's of Insurance" TV show on Time Warner Cable in Western New York hosted by: Lester Robinson

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