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-- is here with us right now of the Fireman's Fund Insurance Co.
I got that -- I think yes.
So you guys basically are what what is the company -- Were a fire insurance company offering homeowners auto -- multiple lines OK and so.
That they take away here is if people do consider.
Remodeling they also have to reconsider their homeowner's insurance they exactly they don't go back and change it.
That happens oftentimes that that's really the for the first thing a -- should do when they're considering.
Home renovation project is notifying their insurance agent or their carrier so that the addition then is covered exactly -- the both the addition is covered.
You know that an inspection goes on by the insurance company during that process.
Adding additional square feet you know tearing out walls updating plumbing or electrical systems -- significant hazard.
I don't think many people think about that that you got a -- your homeowners and get yourself covered he's got a bit of something exactly and it happens more often than you think.
If did did happen in the case of let's just say a fire god forbid I put in just nine I didn't Oklahoma homeowners and they -- there and they really didn't say -- -- -- not covered.
Well I mean you could be up against the value of the policies so maybe you have a 500000 dollar policy.
Some insurance carriers would limit you only to an additional 20%.
Hello I area Agassi Agassi -- multnomah -- put them okay so let's took about remodeling a little bit because people get caught up -- that as well only right some -- mistakes personally I think it was to think about.
And some of the things they should think about again with with the values that they're putting into place if if total replacement cost -- your house is gonna -- seed we'll say a million dollars.
The insurance company might have some alarm requirements on the other side.
And that really needs to be addressed during the planning fire alarm meaningless central station burglar -- -- security security systems absolutely.
You know it's interesting you said that I was reading through your notes and you said it's alarmed the joint while it's being renovated absolutely -- funny is that I had I had I'd.
While back built a home which I'm now living in any more but and it was all open here and -- look like.
It's -- up as a starter kits and didn't make an enemy that how do you do that when the things all open.
Well when it's fully open you know you -- the property there's certainly temporary -- -- wire fences you know that were available to you know fence off.
The perimeter of the structure.
As far as the fire alarm system goes our normal requirement is once that buildings and -- -- so once it got your exterior walls.
In your windows and then you're gonna want to -- burglar in -- motion sensors and he detectors.
To what happens if your -- she catches on fire are you covered.
Certainly if you -- -- insurance right I mean every every insurance -- going to be a little bit different.
Because you know to your point there's flannel politically there's paints like -- really dragging -- absolutely.
Guys and I all the stuff I never even thought -- open electrical junction boxes I mean -- that a lot of hazards that a lot of -- going on.
The other thing they'd say the whole thing was open those internal walls in your interior partition walls actually -- they -- as a fire break.
If they will stop the spread of fire we had a very significant fire -- up in Cambridge Massachusetts maybe two years ago.
Where it was just a shell of a building.
Just the X exterior walls and the fire went through within a matter of minutes because there was nothing no internal walls.
To stop that's from a fire really.
That's scary it was it was a terrible -- it was a historic and significant home.
What about your contractors they have to carry some sort of liability insurance as well done -- absolutely and again that's why you're gonna notify your homeowners carrier.
At the outset that way we can make sure that those two so he'll call the contract and -- why should they have the right amount of -- it's interesting they're okay for the right amount.
So let's set I mean have you seen an uptick in on this recently.
National association of homebuilders has estimated that renovation projects -- 45%.
Over the last couple years absolutely like is that people are staying in place yet they're upside down on their mortgages.
You know they can't really afford to sell so they're improving the house that they have.
But to lie to let go into the Randy I mean I can't answer renovation these days think it I'm gonna get it back -- -- -- Ride it's very much different model that was now -- 56 years ago.
I'm just doing it basically -- -- is good for yourself yes you know kitchens and that's that's that's if he gives you maps that I guess she get back eventually.
-- -- -- -- in the kitchen I think it's like 80% if you do right break you know 80% what's interesting though is that renovations are up but meanwhile stocks like -- -- Home Depot and -- -- pinned down and so this.
One would think people are not doing it that but maybe they're not doing it themselves their hiring people.
-- -- certainly not doing it you know and the higher and they're certainly not doing so that this isn't the higher and that around.
And it's kind of -- right exactly.
Because again we saw earlier that the lower end and they're not the most -- town with that we saw earlier yeah they're they're so they're terrible.
OK so you've seen this uptick.
I think -- -- somewhat positive sign now or is it is it -- not I think it's good for the economy you know certainly you know.
But every dollar spent in in home improvement I mean is is going out into the market contractors are back to work that's something -- absolutely.
This is actually I think this is really good tip you pursue noticed that you should check -- and tried to take your homeowner's insurance just often anyway absolutely.
Every year doesn't cover flood right.
Normally know normally that's a separate endorsement suffered suffered technical -- that the policy.
But standing here great thank you thank you so much mixes with Fireman's Fund Insurance Co.
I got -- -- website and get tips on it absolutely what is it.
Fireman's fund dot com to get out banks fund dot com.
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