Remodeling

Many ask, "What is the difference between Remodeling, Renovation and Restoration?"

Remodeling changes the form of something, as in an addition, removal or change. It often changes the functional use and look of a space. A remodel usually costs more than a renovation.

Renovation focuses on bringing something old back to usable (not new) condition. It tries to maintain the original use and look of a room by using old materials or at least distressing them. Renovation may introduce new items in a retro style. You may renovate a bedroom into a home office. While a renovation only occasionally requires you to pull a permit, a remodel almost always does. A renovation is usually quicker and less costly, and offers a higher return on your investment.

Restoration is fixing the old items to make them usable again. The kitchen uses the same cabinets and countertops, but may have new electronics replaced into the existing appliances. It tries to maintain the original look and use of as much as possible.

Whether you are working on a remodel or renovation, you will want to purchase a General Liability Insurance Policy to protect yourself and your business from the inevitable oversight, mistake, damage, or accident. Your Remodeling General Liability Insurance Policy will protect you from life's and mother nature's little surprises.

Sometimes you have a home that is poorly designed in form and function. In that case, a remodel is the only way to solve your problem and make your home more livable, useful and comfortable. You will need to decide early whether you are going to remodel or renovate the space, that way you can purchase the proper Remodeling General Liability Insurance Policy before you start your work.

A remodel project may find you adding a room or wing to a home where you are installing a foundation, framework, electrical, plumbing, drywall and paint. There are a lot of different elements to this complex project. Make sure you have the training, experience and foresight to accomplish this type of extensive undertaking. Before you start, outline your project carefully, estimate the time and materials you will need, pull a permit, and purchase your General Liability Insurance well in advance. Many Insurance Companies can take 2 weeks to 2 months to process your General Liability Insurance application.

One of the biggest concerns a Remodeling contractor has is having the same vision for the space. You and your customer must be on the same page before any work is started. Otherwise you will fine that no matter what you do, the customer will never be happy, and will fight you at every turn. This can also lead to a lawsuit and claim on your Remodeling General Liability Insurance Policy.

One helpful hint in budgeting and estimating a project is to pay attention to the spaces that you use the most (and least!) and spend accordingly. Spend (estimate for) the most funds in the space where you will utilize them the most. You will many times need to consult with your homeowner to encourage them to make the wisest and most cost0effective choices up front. Any changes in the project will cost them time and money in the long run, and usually end up with a result that is less than optimal. This is where a misunderstanding may occur, that ends up as a claim on your Remodeling General Liability Policy. Situations like this will cause your premiums on your General Liability Policy to rise, or even have your policy cancelled.

At ACE Financial, our helpful and knowledgeable Customer Service Department will gladly help you through the application for your Remodeling General Liability Coverage application so that you can complete it quickly and efficiently. That will help speed up our Underwriting Department process so that you can have your Remodeling General Liability Coverage policy in 1-2 business days.

General Liability Insurance Policies are also riddled with many limitations, exclusions, riders, rate-ups and limits, written in a legalize boilerplate format in order to shield the insurance company from ever paying out in a claim. As the business owner, you need to be very savvy against their manipulation by considering an alternative to their insurance policy games.

Therefore, ACE Financial does not offer an insurance product, but a very effective alternative to insurance by using a risk-sharing group of like-minded industry professionals. We protect our own family by grouping together these low-risk professionals in a policy that is designed and customized to protect them in an honest, practical, cost saving manner. This allows ACE Financial to offer one of the lowest rates in the industry. This risk-sharing method has legally and effectively been used for hundreds of years successfully with farmers, churches, many other professions and governmental agencies.

At ACE Financial, we offer contractors liability coverage tailored to your specific needs and budget. We understand the unique risks and challenges that you face as a professional in the construction industry. We can help you find the best policy that suits your industry and project type. We can also provide you with a certificate of liability coverage that you can use to prove your coverage to your clients or partners.

Don't let an unexpected claim or lawsuit ruin your business. Contact us today to get a free quote and learn more about our contractor's general liability coverage options. We are here to help you protect your construction business with confidence and peace of mind.

For personalized advice, to explore the best coverage options for your business, and to get a low rate quote, reach out to our expert customer service advisors today.

For specific insurance details, terms, and conditions, please consult with a licensed insurance professional. The information provided here is for informational purposes only and does not constitute legal or financial advice.