Renovation Insurance: Is It Essential? Understanding Public Liability Coverage
Do You Need Renovation Insurance?Many people believe that their home renovations or small projects don’t require insurance. However, whether you’re managing the project yourself, hiring a familiar contractor, or working with a design firm, accidents causing bodily injury or property damage can occur during construction. Disputes can lead not only to substantial compensation claims but also disrupt your household’s financial plans.The purpose of renovation insurance is to provide protection against potential risks. It primarily covers third-party bodily injury (like a neighbor getting hurt) or property damage (such as water leaks damaging downstairs interiors) resulting from accidents during the construction period, thereby transferring these unpredictable financial burdens.What is Public Liability Insurance? A Look at Common ClausesPublic Liability Insurance is the core…