How do I insure a home I'm renovating?

If you are renovating an occupied home, your existing homeowner's policy may still apply, but notify your insurer about the work. For major renovations or an unoccupied home under construction, you will likely need a builder's risk policy. This covers materials, tools, and the structure during construction. If contractors are working on site, make sure they carry their own liability and workers compensation insurance. When the renovation is complete, update your homeowner's policy to reflect the home's increased value and any new features like upgraded systems or additions.