Do I need builders risk insurance for a kitchen remodel

Question

I am managing my own kitchen remodel which involves the following work:

• Level subfloor
• New porcelain tile floor
• Replace load bearing wall with post and beam (under the direction and plans of a licensed structural engineer).
• New cabinets
• New countertops
• Minor plumbing modifications
• Minor electrical modifications
• New drywall

I am subcontracting out for most of this work and am being very selective in who I am working with. I have done some reading online and in books I got from the library and some of them say I must get an insurance policy called a Builders Risk insurance policy.

I called my homeowners insurance company today and asked about this and they said that there is no need for me to do this. Is that good advice? What are the pros and cons of getting that insurance and where would I buy such a policy if I decided to get one?

Answer 1

I see no reason for you to insure yourself during this project. I would advise you to be sure the individual subcontractors you hire carry contractors liability insurance. If for some reason a contractor makes a mistake that causes a major problem, you can litigate against that contractor and their insurance company. Example: carpenter drives a nail through a wire, gas or water line that causes collateral damage, fire or water damage. Ask for a copy of the contractors insurance binder sent directly from the insurance company to you. Insurance companies do this at no charge and assures you the policy is in effect and current.